Status: Pending
Age: New (08/08/2025)
Motilal Oswal Reiterates Neutral Rating on NALCO with Target of ₹190
Brokerage
Motilal Oswal
Analyst
Brokerage Team
Position
Neutral
Start Date
08/08/2025
Horizon
Long Term
Target Price and Expected Returns
Start Price
N/A
Target Price
₹190
Expected Returns
N/A
Summary
Motilal Oswal maintained a Neutral rating on NALCO with a target price of ₹190 in its research report dated August 08, 2025.
Motilal Oswal's justification for NALCO target price prediction
- Softening in alumina prices and muted volumes affected 1QFY26 revenues.
- Consolidated EBITDA margins remained strong despite QoQ declines.
- NALCO's valuation at CMP is considered fair with the Neutral rating.
- Final dividend of ₹2.5 per share was recommended for FY25.
- TP of ₹190 values the stock at 4.5x EV/EBITDA based on FY27E expectations.
Sources:
https://www.moneycontrol.com
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