Nalco

Shares of aluminium companies face corrections amid a decline in base metal prices. However, Axis Securities maintains BUY ratings for Hindalco and NALCO despite share declines. Analysts forecast aluminium prices to remain between $3,000 and $3,800/t in the short term.

Hindalco and Nalco's stock prices increased by up to 5% following a spike in aluminium prices due to geopolitical factors. Morgan Stanley reports favorable aluminium demand-supply dynamics, emphasizing Hindalco's strong position with a target price of ₹1,325, signaling over 20% upside potential.

Nifty Metal index is down 10.8% in March so far, and on track to not only snap their three-month winning run but also to post the worst fall since February 2023.

Nifty 50 and Sensex rose for the third session, boosted by IT stocks and declining oil prices. Nifty 50 gained 0.45% to 23,686, while Sensex reached 76,415.29. Despite a weekly gain of 2.5%, both indices remain 6% lower this month due to rising crude oil prices from the US-Israeli conflict.

Stock market crash: According to experts, metal stocks are nosediving due to the market estimates about the shortage of gas supply for the industrial use

NALCO Q3: National Aluminium Company reported a consolidated net profit of ₹1,595.15 crore for Q3 FY26, a 1.8% increase from last year. The Board approved a second interim dividend of ₹4.50 per share, with a record date of February 6, 2026.

NALCO shares have given healthy returns in the near term despite volatility in the Indian stock market. The PSU stock has gained nearly 9.15% in five sessions and 29% in a month.

The Indian stock market fell over 0.40% on November 21 due to broad-based selling, particularly in metal and banking stocks. The Nifty 50 closed at 26,078 points, while the Sensex lost 0.47%. Despite this, both indices ended the week higher with gains over 0.60%.