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Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Motilal Oswal maintains buy on NALCO
Motilal Oswal has maintained its 'buy' call on NALCO for target price of Rs 77. It expects NALCO's aluminum production to increase from 372,000 tons in FY16 to 441,000 tons by FY18, as it increases smelter utilization on improved domestic coal availability. Motilal Oswal adds that its alumina business is in the first quartile of the global cost curve and higher global alumina and coal prices will benefit NALCO, as it has 100 per cent captive alumina sourcing and depends on fixed price contracts for coal.