Nalco the good pick for portfolio

If one wants to have a metal stock in the portfolio, it should be Nalco. The stock has a target price of Rs 550 by short term, Nalco plans to invest Rs 11,000 crore in a greenfield project in Orissa. The company plans to set up a 1250 MW new captive power plant in Orissa and has received government assurance for 7 mt/year coal linkage. The news has pushed the stock up and it is good stock to pick for medium term.