National Aluminium: Momentum Turns Structural as PSU Metals Re-rate

rally is no longer just a technical bounce — it’s starting to look like a structural re-rating within the PSU metals space. The stock has decisively moved into a higher price band after months of steady accumulation, supported by expanding volumes and strong follow-through buying. After spending a long period digesting gains, NALCO has now pushed past key supply zones with conviction. Price remains firmly above its short- and medium-term averages, indicating that dips are being actively bought rather than sold into. What’s driving the renewed strength: Firm aluminium prices globally, supported by supply discipline and energy cost normalization Strong balance sheet and cash-rich position, keeping dividend visibility intact PSU metals back in focus as investors rotate into value + cash-flow stories Market chatter & analyst view: Analysts tracking the metals space believe NALCO is benefiting from a rare combination of commodity stability and balance-sheet comfort, something PSU names lacked earlier. The recent volume expansion suggests institutional interest rather than retail-only participation. While short-term RSI readings indicate mild overheating, experts see any consolidation as healthy, provided prices hold above key moving averages. Medium-term outlook remains constructive as long as aluminium demand from infrastructure and power sectors stays resilient