NALCO looks a bit expensive: Jani

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NALCO looks a bit expensive: Jani

Hemang Jani of Sharekhan is of the view that in terms of valuations National Aluminium Company is not looking that attractive, it will report an EPS of about Rs 35-36 this year, so it’s a bit expensive but it’s a very good quality aluminium play.

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Hemang Jani of Sharekhan is of the view that in terms of valuations National Aluminium Company is not looking that attractive, it will report an EPS of about Rs 35-36 this year, so it's a bit expensive but it's a very good quality aluminium play.

Jani told CNBC-TV18, "Nalco, We think Nalco is a clean aluminium play and we think this year there is going to be 30% of volume growth because of the timely expansion that they have done. We have seen some uptick in the aluminium pricing environment because of the earthquake in China, so we think Nalco should do well. In terms of valuations it is not looking that attractive, it will report an EPS of about Rs 35-36 this year, so it's a bit expensive but it's a very good quality aluminium play."