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    HomeNewsBusinessEarningsNMDC: Is it a good time to move in, post the 25% rally from the lows?

    NMDC: Is it a good time to move in, post the 25% rally from the lows?

    Investors need to watch out for the timeline regarding the steel plant de-merger and divestment

    Nandish Shah
    September 13, 2022 / 15:21 IST
    NMDC | CMP: Rs 122.95 | The share added 6 percent in the week gone by. The Supreme Court has raised the cap on iron ore mining in Karnataka to 50 mt from 35 mt which is significant as it could prompt iron ore mining companies such as NMDC to ramp up capacity implies additional iron ore security for JSW Steel’s Vijayanagar expansion, and might pave the way for auction of more iron ore mines in Karnataka. State-owned miner NMDC Ltd targets to achieve 46 million tonnes of Iron ore production in the current fiscal, 10 percent higher than that of last year, Chairman and Managing Director, Sumit Deb said. The company achieved production of 42.19 MT and sales of 40.56 MT in FY22 with a turnover of Rs 25,882 crore.
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    This Research Report / Research Recommendation has been published by Moneycontrol Dot Com India Limited (hereinafter referred to as “MCD”) which is a registered Investment Advisor under the Securities and Exchange Board of India (Investment Advisers) ...Read More