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NMDC trades in the green, 5 months on: A look at the factors behind the rally

In the last three months, it has gained 33 percent. The stock has clocked gains every single month since August 2022

January 02, 2023 / 05:32 PM IST
 
 
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The share price of NMDC gained over 1.5 percent on January 2 as the stock remains buoyant on demand prospects from China, price hikes and demerger of its steel business.

The counter is also in focus as Life Insurance Corporation of India has pared its stake in the company by 2.07 percent through open market transactions. The LIC holding in NMDC has now reduced to 13.69 percent from 15.77 percent earlier.

At 10am, the stock was quoting at Rs 124.80 apiece on the National Stock Exchange, higher by 1.4 percent. In the last three months, it has gained 33 percent. The stock has clocked gains every single month since August 2022.

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