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NMDC: Dividend a big pull, to lend a hand to valuations

Investors need to watch out for the timeline regarding NMDC's commissioning and de-merger of steel plant

August 30, 2021 / 02:28 PM IST
NMDC: Dividend a big pull, to lend a hand to valuations

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

 The June 2021 quarter results of NMDC (CMP: Rs 149; Market capitalisation: Rs 43593crore) were above Street expectations. In recent times, NMDC has reduced prices of iron ore lumps and fines. From the May price level, rates of iron ore lumps and fines have now been cut by Rs 500 per tonne and Rs 400 per tonne to Rs 7150 per tonne and Rs 6160 per tonne, respectively. With the imposition of a 22.5 per cent additional royalty (premium)...

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