NALCO Leads Indian Aluminium Market Rally with 7.4% Surge

New Delhi, May 17: The Indian aluminium market witnessed strong buying momentum on Monday, with major players NALCO, Hindalco, and Vedanta recording notable gains. National Aluminium Company Limited (NALCO) led the rally, with its stock price climbing 7.4%, surpassing INR 168 (USD 1.98) and reflecting renewed investor optimism in the metals and mining sector.

As of 2:36 PM IST, NALCO shares were trading at INR 168, up INR 11.16 or 7.12% from the previous close of INR 156.84 on May 10. The stock opened at INR 162.39, moved between INR 161.36 and INR 168.64, and closed at INR 168.46. The price movement places the stock comfortably between its 52-week low of INR 137.75 and high of INR 262.99.

The surge also boosted NALCO’s market capitalisation to INR 30,860 crore, with a compelling price-to-earnings (P/E) ratio of 7.35 and a strong dividend yield of 5.95%, making it an appealing option for value and income-focused investors.

In comparison, Vedanta gained 7%, closing at INR 435.50 (USD 5.13), while Hindalco rose 3.8% to INR 651.25 (USD 7.67).

The sharp uptick in aluminium stocks reflects bullish sentiment across the sector, likely driven by improved demand forecasts, global commodity trends, and positive domestic market cues. While the rally is seen as a strong signal of market confidence, analysts advise investors to remain watchful for potential volatility in the coming sessions.