National Aluminium Company (NALCO) shares surge over 8% and emerge as the top gainer in NIFTY Midcap; here is why

Shares of National Aluminium Company (NALCO), the state-run aluminium producer, surged as much as 8.59% to hit an intraday high of ₹254.90 on the National Stock Exchange on Monday, November 10. The stock emerged as top gainer in the NIFTY Midcap 100 index after it reported September quarter earnings post market hours on Friday.

On the BSE, NALCO shares climbed as much as 8.7% to hit an intraday high of ₹254.85.

NALCO shares were witnessing higher than usual trading volumes on the National Stock Exchange. Over 3.05 crore shares changed hands compared with an average trading volume of 86.78 lakh shares.

On the BSE, 16.24 lakh shares changed hands compared with an average of 3.61 lakh shares traded daily in the past two weeks.

NALCO post market hours on Friday reported a 36.71% year-on-year (YoY) surge in its standalone net profit to ₹1,429.94 crore in the September quarter of the 2025-26 financial year (Q2FY26).

In the corresponding period of the previous fiscal year, it clocked a profit of ₹1,045.97 crore, it said in a regulatory filing.

During the quarter under review, the state-owned company’s revenue from operations advanced 7.27% YoY to ₹4,292.34 crore, compared to ₹4,001.48 crore in the September quarter of FY25.

Its EBITDA margin expanded to 45.03% in the second quarter of the current fiscal year, as against 38.73% in Q2FY25.

NALCO’s board of directors also declared its first interim dividend of ₹4 per equity share with a face value of ₹5 each, at a rate of 80%, on the paid-up equity share capital of ₹918.32 crore for the FY26.

The PSU also fixed Friday, November 14, 2025, as the record date for the payment of the first interim dividend to the eligible shareholders.

“The payment of 1st interim dividend shall be made on or before 06.12.2025 to all eligible shareholders, whose names appear in the Register of Members as record date,” it said.

NALCO achieved its best-ever performance in Alumina Hydrate, Calcined Alumina and Aluminium Cast Metal production for the first half of FY 2025–26.

"The company recorded its highest-ever Alumina Hydrate production of 11,53,000 MT and Aluminium Cast Metal production of 2,34,148 MT in H1 FY 2025–26. Similarly, on the sales front, NALCO achieved its highest-ever Alumina sales of 6,99,913 MT in H1, surpassing the previous best of 6,56,480 MT achieved in FY 2013–14. The company also recorded highest-ever cumulative domestic metal sales of 2,25,675 MT in H1 FY 2025–26." NALCO said in a press release.

The strong performance during Q2 FY 2025–26 was driven by enhanced operational efficiencies, cost optimization measures, and supportive market conditions, including a recovery in aluminium prices in the international market and steady domestic demand growth from the infrastructure and automotive sectors, NALCO added.

As of 10:46 am, NALCO shares traded 7.42% higher at ₹252.15, outperforming the NIFTY Midcap 100 index which was up 0.45%.