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NMDC: Near-term outlook improves

Any positive outcome regarding the Donimalai mine could change our volume assumptions about NMDC

November 12, 2020 / 11:36 AM IST
NMDC: Near-term outlook improves

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

NMDC’s (CMP: Rs 91; Market capitalization: Rs 27,771 crore) September 2020 quarter results were in line with expectations. Higher prices for iron ore fines and lumps and higher volumes helped. September 2020 results analysis Production for the September 2020 quarter was down 15 percent quarter-on-quarter due to the monsoons while sales volumes were higher by 5 percent on the back of strong demand for iron ore in the domestic market. Net sale realization of iron ore stood at Rs 3321 per...

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