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Buy Nalco; target of Rs 42: Motilal Oswal

Motilal Oswal is bullish on Nalco recommended buy rating on the stock with a target price of Rs 42 in its research report dated September 05, 2020.

September 10, 2020 / 02:07 PM IST

Motilal Oswal 's research report on Nalco

Nalco (NACL) surprised with higher-than-expected EBITDA at INR1.29b (est.: INR81m), led by cost reduction in the Aluminum business. However, it was down 33% YoY due to lower prices and volumes. -We raise our FY21 EBITDA estimate by 67% to factor recovery in LME prices, but maintain FY22 estimates. Maintain Buy.


We value the stock at 5.5x FY22E EV/EBITDA to arrive at TP of INR42. Buy.

For all recommendations report, click here

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first published: Sep 7, 2020 07:08 pm