India's NALCO gains after UBS initiates coverage with 'buy'
BUZZ-India's NALCO gains after UBS initiates coverage with 'buy' ** Shares of India's National Aluminium Co NALU.NS rise as much as 2.71% to 380.90 rupees; last up 1.19%
** UBS initiates coverage on aluminium producer with "buy" rating and target price of 460 rupees, citing favourable commodity cycles and operating leverage
** Brokerage says elevated aluminium prices and co's low-cost operations could drive earnings growth and margin expansion over FY27-FY28
** UBS forecasts FY27/FY28 EBITDA to be 39% and 54% above consensus estimates, respectively, citing stronger aluminium and alumina realisations
** NALU rated "hold" on average by 13 analysts, median PT at 400 rupees - data compiled by LSEG
** YTD, stock up 21.89%
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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