Add Nalco, target price Rs 235: ICICI Securities

ICICI Securities raises target price for National Aluminium Company to Rs 235. The brokerage upgrades the stock to 'Add'. Nalco benefits from high alumina prices. The company reports strong earnings for the recent quarter. ICICI Securities revises its alumina price estimates upwards. The brokerage has revised the target price to Rs 235 (earlier Rs 145) on an unchanged 5.5x FY26E EBITDA