27 Dec , 2021 By : Kanchan Joshi
Rakesh Jhunjhunwala portfolio: On account of aluminium and other metal prices soaring to record high this year and Government of India (GoI) imposing 5 per cent anti-dumping duty on aluminium, stock market experts are expecting strong quarterly numbers from metal stock companies. This includes National Aluminium Company Limited or NALCO. According to stock market experts, NALCO shares are looking strong from both fundamental and technical angles. They advised investors to buy this Rakesh Jhunjhunwala stock at around Rs95 to Rs100 for 3 months target of Rs137.
Advising investors to add this Rakesh Jhunjhunwala share in their stock portfolio; Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Aluminium and other metal prices have shot up to record high in last one year and it is not expected to come down in near term. So, street is expecting string quarterly numbers from the company next month. Apart from this, the company has been able to contain its debt as well. So, from fundamental perspective, it is a quality stock that one can add in one's portfolio. However, it is a PSU stock and hence its movement will be limited. One can expect this to go up to Rs130 to Rs135 in next 3 months."
Echoing with Avinash Gorakshkar's views; Ravi Singhal, Vice Chairman at GCL Securities said, "GoI has imposed 5 per cent anti-dumping duty on aluminium and other metals, which is fueling the morale of stock investors in regard to metal companies. Since, NACLO is a quality PSU stock available at discounted price, one can buy NALCO at around 95 to Rs100 per share levels for the target of Rs137 per stock levels."
On his suggestion to immediate short term traders; Sumeet Bagadia, Executive Director at Choice Broking said, "One can buy NALCO shares at current levels for the immediate short term target of Rs110 to Rs120 maintaining stop loss at Rs90 levels."
Rakesh Jhunjhunwala shareholding in NALCO
As per NALCO shareholding pattern for July to September 2021 quarter, Rakesh Jhunjhunwala holds 2.5 crore company shares, which is 1.36 per cent of the total issued paid up capital of the company.
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