National Aluminium Company Limited (NSE:NATIONALUM) Stock Catapults 27% Though Its Price And Business Still Lag The Market
National Aluminium Company Limited (NSE:NATIONALUM) shares have continued their recent momentum with a 27% gain in the last month alone. The last 30 days bring the annual gain to a very sharp 68%.
Even after such a large jump in price, National Aluminium’s price-to-earnings (or “P/E”) ratio of 10.4x might still make it look like a strong buy right now compared to the market in India, where around half of the companies have P/E ratios above 26x and even P/E’s above 50x are quite common. Nonetheless, we’d need to dig a little deeper to determine if there is a rational basis for the highly reduced P/E.
National…
