Multibagger NALCO share price rises 5% to 52-week highs on strong business updates; achieves record production and sales
National Aluminium Co. Ltd. ) share price gained more than 5% during the intraday trades on Wednesday on strong business updates.
The share price already is up more than 118% over the last one year on strong earnings growth and business outlook. The company in its release on the exchanges on Tuesday post market hours said that it had achieves record Aluminium and Bauxite production during FY24 and set a record in production and sales. NALCO (National Aluminium Company) has broken all prior records since its inception by producing the most cast metal (4,63,428 metric tons), the most bauxite (76,00,230 metric tons), and the most metal (4,50,00108 metric tons), highlighted the company.
The Nalco has expanded its product line to include a new Aluminum Alloy Ingot (AL59) for FY 23–24. Also Read- Adani Enterprises: 4 key reasons why Jefferies expects 17% upside for the stock post start of its copper unit NALCO (National Aluminium Company) Alumina Refinery produced 21,24,000 metric tons of alumina hydrate, achieving a 101.15% capacity utilization, and the Captive Power Plant produced a gross of 7193.62 million units of power. Working on backward integration NALCO (National Aluminium Company ) constructed and operationalized its Utkal D coal block in FY 23–24 and produced 2 million tonnes of coal.
Notably this is mine's max rated capacity. Coal security is of utmost importance in the energy intensive Aluminium production business. The captive coal mines will lead to improvement in profitability for Nalco (National Aluminium Company) too.
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