National Aluminium Company (NALCO), a PSU under the Ministry of Mines, is a significant integrated producer of alumina and aluminium. Despite a strong 5-year profit growth of 108% and a dividend yield of 3.2%, leading brokerage houses like ICICI Securities and Motilal Oswal had previously advised caution, deeming the stock 'fully priced' with targets around Rs 246-250. However, the stock has since rallied approximately 30% to Rs 330, creating a divergence between fundamental analysis and market sentiment.