Multi-bagger Navratna PSU Metal Stock NALCO Rises amid signing Mining Lease deed

State-run Metal Stock, National Aluminium Company (NALCO) witnessed a 1.01% surge in its stock price to Rs 215.75 on Wednesday following an announcement about securing a mining lease for the amalgamated Utkal-D and Utkal-E coal blocks. This is expected to enhance the company's coal production capacity and strengthen its fuel security.

As per the filing, NALCO confirmed signing the mining lease deed for the Utkal-D and Utkal-E coal blocks in Angul district, Odisha. The lease, valid until April 21, 2051, is set to increase the company's coal production capacity to 4.0 MTPA (Million Tonnes Per Annum). This development will boost fuel security for NALCO's captive power plant, which supports its aluminum production operations.

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During its meeting on November 13, 2024, NALCO's board declared an interim dividend of Rs 4 per share. This represents an 80% payout based on the face value of Rs 5 per share, resulting in a total dividend payout of Rs 734.65 crore for the fiscal year 2024-25.

NALCO's stock has performed exceptionally well, delivering over 88% returns over the past year. In 2024 alone, the stock has increased by nearly 60%. As of 1:55 PM on Wednesday, NALCO shares were trading at Rs 216.88 on the National Stock Exchange (NSE).

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