President of India-Backed Aluminium Manufacturer’s Subsidiary; KABIL Signs MoU with Oil India Ltd for Collaboration in Projects & Exploration
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 88.21 per share.
The National Aluminium Company Limited (NALCO) subsidiary, KABIL, and Oil India Limited (OIL) have joined forces to explore and develop critical mineral projects. A Memorandum of Understanding (MoU) was signed between the two companies at NALCO's headquarters in Bhubaneswar. The collaboration aims to strengthen and foster connections in the exploration and exploitation of critical minerals, both domestically and internationally.
Under the terms of the MoU, KABIL and OIL will work together on existing and future projects. They will collaborate on identifying international critical mineral opportunities, conducting thorough due diligence on potential projects, and jointly investing in selected ventures. This partnership is expected to leverage the expertise and resources of both companies to accelerate the development of critical mineral projects and secure a reliable supply of these essential materials for India's growing economy.
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National Aluminium Company Limited (NALCO) is a state-owned Indian company specializing in the production of aluminium and alumina. Established in 1981, it operates in various stages of the aluminium production process, from bauxite mining to aluminium smelting and power generation. The company has a significant manufacturing capacity and exports its products to countries like China, Indonesia, Malaysia, Singapore, Thailand, Egypt, Oman, Qatar, the UK, and the UAE. NALCO's commitment to quality and efficiency has led to its success as a major player in the global aluminium market.
The company has a market cap of over Rs 33,000 crore and as of June 2024, The President of India owns a 51.28 per cent stake. The shares of the company have a PE of 17x, an ROE of 13 per cent, an ROCE of 17 per cent and has been maintaining a healthy dividend payout of 46.2 per cent. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 88.21 per share. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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