The country's top iron ore producer had earlier announced to commission its about Rs 18,000 crore integrated steel plant by May 2015.
The market breadth was in favour of the declines with 315 stocks advancing while 1342 declined and 371 remained unchanged. On the other hand, in the BSE, 558 stocks advanced and 1761 declined and 92 remained unchanged.
Stock is trading at an attractive valuations 5.5 times its FY19 estimated enterprise value to EBITDA and 1.5 times its book value
Aegis Logistics, Tata Motors and metals, among others, are being tracked by analysts on Thursday.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Voltas, Tata Consultancy Services, Sun Pharmaceutical Industries, NMDC, DLF, KPIT Technologies and Hexaware Tech and can short UltraTech Cement and Tata Motors.
The market breadth was in favour of the advances with 878 stocks advancing while 789 declined and 348 remained unchanged. On the other hand, in the BSE, 1268 stocks advanced and 1260 declined and 160 remained unchanged.
The company had posted a profit of Rs 595.16 crore in the corresponding quarter of the previous fiscal, NMDC Ltd said in a BSE filing.
Sudarshan Sukhani of s2analytics.com advises selling Canara Bank, NMDC and Godfrey Phillips.
Prakash Gaba of prakashgaba.com is of the view that one can buy Bharat Financial Inclusion, GAIL India, NMDC and State Bank of India.
Rajat Bose of rajatkbose.com is of the view that one can buy NMDC and Raymond and can sell TVS Motor.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy Ashok Leyland, NMDC and JSW Steel.
The sale of 2.52 percent in NMDC at a floor price of Rs 153.50 per share will fetch about Rs 1,200 crore to the exchequer.
Importantly what is even more lucrative is that retail investors are offered an additional discount of 5% on the offer price of Rs 153.5 per share.
Institutional investors put in bids worth Rs 976 crore on Tuesday for buying government's part stake in state-owned miner NMDC.
The surge in the metal stock prices which were all trading in the green was mainly on the back of upbeat commodity prices. JSW Steel was up 3.57 percent while NMDC gained 3.32 percent, both hitting new 52-week high.
Edelweiss is bullish on NMDC has recommended buy rating on the stock with a target price of Rs 195 in its research report dated January 03, 2018.
Sources told CNBC-TV18 that the state-run mineral producer has raised fines and lumps prices by Rs 500 per tonne each for January 2018.
The country's largest steelmaker has been posting losses since 2015-16, mainly on account of slowdown in the sector.
NMDC is a great buy even at current levels with a timeframe of over one year, says Sudip Bandopadhyay of Inditrade Capital.
"Then the due diligence will be done. After that we will take a call on whether to invest (in the mine) and if yes how much. We have a JV partnership with Midhani. DMRL will be supporting in the form of funding the due diligence," said P K Satpathy, NMDC Director (production), at a press conference.
Iron ore prices are more domestic-driven than international prices, said DS Ahluwalia, Director-Finance, NMDC.
Net Sales are expected to increase by 49.3 percent Y-o-Y (down 8.6 percent Q-o-Q) to Rs. 2597.4 crore, according to Edelweiss.
The company has produced 9.74 MT iron ore from its mines in Chhattisgarh and 5.91 MT from the mines in Karnataka, NMDC said in a filing to BSE.
The country's largest iron ore miner NMDC has slashed prices of higher grade iron (lumps) by Rs 100 to Rs 2,300 per tonne for the current month.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy NMDC, Bata India, Hindustan Unilever and Petronet LNG and can sell Wockhardt.