Rakesh Jhunjhunwala Portfolio: Buy THIS Rs 100 stock to get 35% return in few weeks - Experts

New Delhi: National Aluminium Company Limited (NALCO), a Rakesh Jhunjhunwala portfolio stock, is gaining traction from market experts who are of the view that the Rs 100 stock could soon reach at above Rs 135 levels. 

Indian metal companies are buoyed by the Indian government’s decision to impose a 5% anti-dumping duty on aluminium at a time when metal prices are nearing record highs in international markets. 

That is one of the major reasons why market investors are bullish on NALCO’s growth. Rakesh Jhunjhunwala, who is often called the bill bull of India’s stock market, owns a stake in NALCO; which is another reason why investors are flocking to buy the stock.  

On Wednesday (December 29), NALCO shares closed at Rs 98.45 with a fall of 1.60%. Market experts also suggest buying the stock at around Rs 95 to Rs 100 levels with a three-month target of about Rs 135 to Rs 140. 

The stock could pretty soon jump about 40%. According to Avinash Gorakshkar, Head of Research at Profitmart Securities, NALCO could jump from Rs 130 to Rs 135 in the next three months. 

Gorakshkar told Mint that the street is expecting strong quarterly numbers from the company in January as aluminium and other metal prices have jumped to a record high in the past year. He added that the metal prices are not expected to come down anytime soon. 

In the ongoing calendar year, NALCO’s share price has jumped by 121.98%, from close to Rs 45 per share to about Rs 100 apiece. Investors are expecting more growth for the company in the coming year. 

According to Ravi Singhal, Vice Chairman at GCL Securities, NALCO’s share price could increase to Rs 137 apiece. He told Mint that the anti-dumping duty on aluminium and other metals is fueling the morale of stock investors in regard to metal companies. Also Read: Buying term insurance plan gets expensive for low-income, non-graduate customers, check how

According to the latest shareholding pattern for the quarter ending September 2021, Rajesh Jhunjhwala owned a 1.36% stake in NALCO. In total, he holds about 2.5 crore shares of the public sector undertaking. Also Read: Sensex drops 91 points, Nifty ends below 17,250

(Disclaimer: The views/suggestions/advice expressed here in this article are solely by investment experts. Zee News English suggests its readers to consult with their investment advisers before making any financial decision.)

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