Rakesh Jhunjhunwala Portfolio Shares of National Aluminum Company Limited or NALCO have bounced back from their lows in recent sessions, following the announcement of the second interim dividend. One of the multibagger stocks in 2021, this stock of Rakesh Jhunjhunwala has broken its barrier 109 and now looks ready for strong upside moves. According to stock market experts, Nalco share price has strong support at 100 and now it can go up 164 in the short to medium term.
Stock market investors should buy Rakesh Jhunjhunwala Portfolio Stocks; Sumeet Bagadiya, Executive Director, Choice Broking said, “Stock remains up 100 and bounced back from its lows. Now, Multibagger Metal stock chart looks positive on the pattern and high risk traders can buy NALCO Shares at current market price for immediate short term target. maintain stop loss at 124 108 each level.”
Rakesh Jhunjhunwala’s portfolio highlighting the fundamentals of this multibagger stock; Santosh Meena, Head of Research, Swastika Investmart said, “We are in a supercycle in the metals sector and have more legs to go in this cycle where aluminum can continue to outperform on the back of a strong economic outlook and transition to the EV industry. Russia-Ukraine crisis is another tailwind for aluminum and aluminum companies in India such as National Aluminum and Hindalco Industries as Russia is one of the major producers and exporters of aluminum and we can expect several sanctions on Russia by various countries leading to Indian aluminum companies will benefit. Nalco may continue to outperform in the PSU basket on the back of strong industry outlook.”
Suggesting positional investors to add this stock to their portfolio for the short to medium term, Santosh Meena, Swastik Investmart said, “Technically, NALCO stock has entered a new expansion phase after breaking the level Is. 100 where the recent correction is a good buying opportunity and the stock is respecting its 50-DMA, which is currently placed at The 109 level while the 100 level will act as strong support on any meaningful correction. on the upside, 128 is acting as an immediate resistance; Above this, we can expect a step 141 more 164 level in the short to medium term.”
NALCO Share Dividend
NALCO has declared second interim dividend to its shareholders in February. The BSE exchange, citing the declaration of second interim dividend by PSU Metal Company, said, “National Aluminum Company Limited has informed BSE that for the purpose of payment of second interim dividend, the company has declared February 18, 2022 as the record date. The second interim dividend to be paid shall be paid to all eligible shareholders on or before March 07, 2022.”
Rakesh Jhunjhunwala’s stake in NALCO
As per the shareholding pattern of NALCO for the quarter October to December 2021, Rakesh Jhunjhunwala holds 2.50 crore shares of NALCO, which is 1.36 per cent of the total paid-up capital of the company.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
Never miss a story! Stay connected and informed with Mint.
download
Our App Now!!
,