Intraday Buy Call For NALCO

Intraday Buy Call For NALCOTechnical analyst Anil Singhvi has maintained 'buy' rating on National Aluminium Company Limited (NALCO) stock with an intraday target of Rs 115.

Mr. Singhvi said that the investors can buy the stock with a stop loss of Rs 107.

The shares of the company, on March 15, closed at Rs 107.70 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 481.50 and a low of Rs 117 on BSE.

Current EPS & P/E ratio stood at 4.48 and 24.02 respectively.

State-owned National Aluminium Company Ltd has entered into a memorandum of understanding (MoU) with the union mines bureau for the fiscal 2011-12.

The company's acting chairman-cum managing director (CMD) B. L. Bagra inked the MoU with Mines Secretary Vijay Kumar in the National Capital on Tuesday.

Under the deal, NALCO has anticipated advanced bauxite production of 63 lakh tonnes and 21 lakh tonnes production of alumina from its mines as well as refinery complex situated at Damanjodi in Koraput region by the coming financial year.

Likewise, metal output from NALCO's smelter has been estimated at 4.6 lakh tonnes and power creation at 7518 million units from its 1200 MW captive power facility, both at Angul in the state.

NALCO, which is headquartered in Bhubaneswar, is Asia's biggest incorporated aluminium fabricator.