The company had posted a consolidated profit of Rs 302.35 crore in the year-ago period
The company had posted a consolidated profit of Rs 302.35 crore in the year-ago period, Nalco said in a filing to the BSE.
Margin for the September quarter contracted to 1.37 percent against 28 percent in the same period last year as other expenses increased by 25 percent YoY.
Presently three units of CPP, each of 120 MW capacity are under shutdown and further one more unit will be taken under shutdown due to coal shortage.
NALCO has fixed March 12 as record date for payment of interim dividend.
Macquarie feels NALCO is the best play on alumina and maintained Outperform call on the stock with increased target price to Rs 87 from Rs 82 per share.
"The company will gain from operating leverage in aluminium. We feel investors could buy the stock with target price of Rs 100," says Sumit Bilgaiyan, Founder of Equity99.
"Oscillators like RSI & MACD are in oversold zone. Sustenance trade above 10140 levels may add upside momentum till 10,190 and 10,250 marks. Strong support is seen around 9,900-10,000 levels," says Rajesh Agarwal of AUM Capital.
"The Nifty has taken support around its major moving average of 200 SMA i.e. 10,160 levels which might work as strong support zone in near term. Sustenance trade below 10140 marks may drag Index further lower till 9,900-10,000 zones," says Rajesh Agarwal of AUM Capital.
Sandeep Wagle of powermywealth.com recommends buying National Aluminium Company and Tech Mahindra.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Adani Ports and Special Economic Zone, National Aluminium Company, Dr Reddy's Laboratories and Gujarat State Petronet Limited and can sell Jet Airways and Mahindra & Mahindra.
Ashwani Gujral of ashwanigujral.com advises buying NIIT Technologies, Ujjivan Financial Services and NALCO.
Sandeep Wagle of powermywealth.com suggests buying IndusInd Bank and National Aluminium Company.
Mitessh Thakkar of mitesshthakkar.com is of the view that one can buy Asian Paints, Gruh Finance, HUDCO and Nalco and sell Bharat Forge.
Operating profit is expected to surge 56.9 percent to Rs 306 crore and margin may expand 240 basis points to 15 percent compared to same quarter last year.
Mitessh Thakkar of mitesshthakkar.com suggests buying Dalmia Bharat, National Aluminium Company, Shriram Transport Finance and Gateway Distriparks.
Vishal Malkan of malkansview.com advises selling Power Finance Corporation with target of Rs 115.
According to Prakash Gaba of prakashgaba.com, crucial support for the Nifty is at 9630-9580 and the resistance is at 9724 and he picks Hindustan Zinc, Nalco and TVS Motor as bullish plays and HDIL as a bearish play.
"Iran's proposal is attractive as long as gas prices are attractive, but not much of an indication in that area has come," Chairman Tapan Kumar Chand told Reuters.
Mitessh Thakkar of mitesshthakkar.com is of the view that one can buy Bajaj Finance, IGL, Grasim Industries, Arvind and Bata India and sell NALCO.
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