Home » News » CNBC-TV18 Comments
Sep 18, 2013, 04.28 PM IST | Source: CNBC-TV18

See no impact of Naxal attack on Chhattisgarh mine: NMDC

The management has communicated that just the conveyor belt was in fact torched and will take two days to be repaired. The management had scheduled a maintenance shut down which now they will have to prepone. The stock, however, did show a bit of a temporary blip.

Nigel D Souza

Research Analyst, CNBC-TV18

More about the Expert...

Naxals today torched a conveyor belt in NMDC ’s mines in Chhattisgarh, reports CNBC-TV18’s Nigel Dsouza. The attack, however, themanagment has said will have no impact on iron production.

The mines that are a part of the Bacheli iron ore mines, contribute nearly 60 percent of the total production that comes in from Chhattisgarh. So, of the 18 to 20 million tonne iron produced, a majority comes from the Bacheli mines.

The management has communicated that just the conveyor belt was in fact torched and will take two days to be repaired. The management had scheduled a maintenance shut down which now they will have to prepone. The stock, however, did show a bit of a temporary blip.

However, the management has said that the Naxalite activity is a constant overhang and these incidents happen on a day to day basis as well, hence, it is not gravely impacted by it.

Set email alert for

ADS BY GOOGLE

Buy & sell politicians on Power Play
- the political stock exchange

Price Update

Narendra Modi

80994.64 986.03 1.23%

2696

Bought today

384

Sold today

0.78%

User holding

video of the day

Wage hikes to hit Q1FY15 margin by 250-300 bps: Infosys

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.