Dividend stocks today: Here is the complete list of stocks to remain in focus during today's trading following their announcement of dividends
Nalco share price today: YES Securities values the company at 6x H1FY28E EV/Ebitda and arrives at a target price of ₹247
Nalco' board of directors also approved a final dividend of ₹2.5 per share for FY25
The Nifty Metal index was seen testing the 100-WMA (Weekly Moving Average) support for the third time in the last 4 weeks. Similarly metal stocks too are testing long-term supports; check levels here.
Kotak Institutional Equities believes that Nalco is best placed to benefit from the ongoing supply tightness in the alumina market
Nalco share: The mines have an annual production capacity of 3.5 million tonnes and have reserves estimated at 111 million tonnes
Earnings before interest, tax, depreciation, and amortization (EBITDA) jumped 68 per cent YoY to Rs 770 crore, driven by better operating performance in the aluminum business.
State-owned National Aluminium Company Ltd (Nalco) on Thursday reported a 49.3 per cent increase in consolidated profit to Rs 187.35 crore for the September quarter. The company had posted a consolidated profit of Rs 125.43 crore in the year-ago period, Nalco said in a filing to the BSE. However, the consolidated income of the company during the July-September period dropped to Rs 3,112.02 crore over Rs 3,558.85 crore in the year-ago period. Nalco is a navratna public sector undertaking under the Ministry of Mines.
The company's consolidated net profit dropped to Rs 333.76 crore in Q1FY24 from Rs 557.91 crore in Q1FY23. Total income was down 16.1 per cent YoY at Rs 3,226.88 crore.
National Aluminium Company Limited (NALCO) on Friday posted a 40 per cent decline in consolidated net profit to Rs 333.76 crore for the June quarter due to lower income. It had clocked a net profit of Rs 557.91 crore in year-ago quarter, the company said in a regulatory filing. The company's total income dropped to Rs 3,226.88 crore in the first quarter of the current fiscal compared to Rs 3,847.17 crore in the year-ago period. Odisha-based NALCO is one of the largest integrated aluminium producers in the country. Shares of the company closed at Rs 94.24 apiece on the BSE on Friday, down 0.81 per cent from its previous close.
Stocks to watch on May 24, 2023: Cummins, Hindalco, India Cements, LIC, National Aluminium, Nykaa and Oil India among prominent companies scheduled to announce Q4 results on Wednesday.
The BSE Metal index was the top performer, up 1.4 per cent; Major metal and mining related shares gained 1-2 per cent each in intra-day trades on Friday.
India has diverted coal supplies from the non-power sector, and put on hold plans for some fuel auctions, in a bid to ensure coal availability for utilities and tackle widespread power outages
According to Vinay Rajani of HDFC Securities, metal as a sector has been outperforming for a while and technical setup of the metal index is much stronger than Nifty.
National Aluminium Company Ltd (Nalco) on Monday said its December quarter consolidated profit surged over three times to Rs 830.67 crore. The company had posted a profit of Rs 239.71 crore for the year-ago period, Nalco said in a filing to BSE. Income during the quarter increased to Rs 3,845.25 crore over Rs 2,414.95 crore in the year-ago period, the filing said. The company paid final dividend of Rs 1 per equity share amounting to Rs 183.66 crore for 2020-21. With this, the total amount of dividend payout for 2020-21 is Rs 3.50 per equity share -- interim dividend of Rs 2.50 per share and final dividend of Rs 1 per share amounting to Rs 644.27 crore.
The Nifty Metal index can clock a new high, if it manages to cross and sustain above the 6,000-mark.
Amaraja Batteries, Apollo Hospitals, Ashok Leyland, Bharat Forge, BPL, Glenmark Pharma, Hero MotoCorp, Vodafone Idea, National Aluminium, Reliance Capital, SpiceJet and Suzlon are some of the stocks
The stock of Hindalco is attempting to close decisively above the resistance of Rs 475 with strong volume
The company had reported a consolidated profit of Rs 16.69 crore in the year-ago period.
Zinc, aluminium poised for correction as prices move ahead of fundamentals