National Aluminium Company Ltd Sees Robust Trading Activity Amid Strong Institutional Interest

Trading Activity and Price Movement

On 2 Feb 2026, NATIONALUM recorded a total traded volume of 72,98,184 shares, translating into a substantial traded value of ₹263.58 crores. The stock opened at ₹347.10, down approximately 2% from the previous close of ₹354.20, indicating an initial gap down. However, it quickly recovered, touching an intraday high of ₹369.35, a gain of 4.28% from the open, before settling at ₹362.00 at the last update time of 09:44:46 IST. The day’s low was ₹342.00, representing a 3.44% dip from the previous close.

This intraday volatility, coupled with a closing price gain of 3.22%, underscores a strong reversal after two consecutive days of decline. NATIONALUM outperformed its sector by 2.04% and the Sensex by 3.00%, with the stock delivering a 1-day return of 2.41% against the sector’s 0.99% and Sensex’s 0.22% returns.

Institutional Interest and Delivery Volumes

Investor participation has notably increased, with delivery volumes on 30 Jan reaching 1.42 crore shares, an 82.57% rise compared to the five-day average delivery volume. This surge in delivery volume indicates strong institutional interest and confidence in the stock’s medium-term prospects. The weighted average price suggests that a larger volume of shares traded closer to the day’s low, signalling bargain hunting and accumulation by informed investors.

Liquidity remains robust, with the stock’s traded value representing approximately 2% of its five-day average traded value, sufficient to support trade sizes of up to ₹26.41 crores without significant price impact. This liquidity profile makes NATIONALUM an attractive option for institutional and large-volume traders seeking exposure to the non-ferrous metals sector.

Technical and Trend Analysis

From a technical standpoint, NATIONALUM’s price is currently trading above its 20-day, 50-day, 100-day, and 200-day moving averages, signalling a sustained upward trend over multiple time horizons. However, it remains below its 5-day moving average, reflecting short-term consolidation or profit booking after recent gains. This pattern suggests a potential pause before the next leg of upward movement, contingent on broader market conditions and sectoral momentum.

The stock’s recent upgrade from a ‘Buy’ to a ‘Strong Buy’ rating on 11 Nov 2025, accompanied by a high Mojo Score of 80.0, further reinforces its favourable outlook. The Mojo Grade upgrade reflects improved fundamentals, valuation metrics, and positive market sentiment, positioning NATIONALUM as a compelling mid-cap investment within the non-ferrous metals industry.

Fundamental and Market Capitalisation Overview

National Aluminium Company Ltd operates within the non-ferrous metals sector, a critical segment of the industrial metals market. With a market capitalisation of approximately ₹65,044 crores, it is classified as a mid-cap stock, offering a blend of growth potential and relative stability compared to smaller peers.

The company’s strong fundamentals, reflected in its upgraded Mojo Grade and high Mojo Score, indicate solid earnings quality, efficient capital allocation, and favourable valuation metrics. These attributes have attracted institutional investors, as evidenced by the rising delivery volumes and value turnover.

Sectoral Context and Comparative Performance

The non-ferrous metals sector has witnessed mixed performance recently, influenced by global commodity price fluctuations, supply chain dynamics, and demand from key end-use industries such as automotive and infrastructure. NATIONALUM’s outperformance relative to its sector peers highlights its operational resilience and market positioning.

Compared to the broader Sensex index, NATIONALUM’s 1-day return of 2.41% significantly outpaces the benchmark’s 0.22%, signalling strong relative momentum. This outperformance is particularly noteworthy given the stock’s mid-cap status, which often entails higher volatility and sensitivity to market sentiment.

Outlook and Investor Considerations

Given the current trading dynamics, institutional interest, and technical indicators, NATIONALUM appears well-positioned for further gains in the near to medium term. The stock’s liquidity profile supports sizeable trades without undue price disruption, making it suitable for both institutional and retail investors seeking exposure to the non-ferrous metals sector.

Investors should monitor the stock’s ability to sustain above key moving averages and watch for confirmation of trend continuation beyond short-term consolidation. Additionally, macroeconomic factors such as commodity price trends, government policies on metals and mining, and global demand conditions will remain critical to the stock’s trajectory.

Conclusion

National Aluminium Company Ltd’s strong value turnover, rising institutional participation, and positive technical signals underscore its appeal as a mid-cap stock in the non-ferrous metals sector. The recent upgrade to a Strong Buy rating and a high Mojo Score of 80.0 reflect improved fundamentals and market sentiment. While short-term volatility remains, the stock’s liquidity and trend profile suggest it is well placed for continued investor interest and potential price appreciation.

Market participants should continue to track delivery volumes, moving average trends, and sectoral developments to gauge the sustainability of the current momentum. Overall, NATIONALUM offers a compelling investment case for those seeking exposure to India’s industrial metals growth story.

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