NMDC will hold a meeting of the Board of Directors of the Company on 31 January 2019.

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Sponge Iron Unit (SIU), Paloncha of NMDC has re-commenced itsoperations with lighting up of plant after a long gap of shut down due to administrative reasons. The existing capacity of the plant is to produce 100 T/Day of sponge iron of good quality. At present, the plant is started with 50% of its rated capacity due to long shut down of the plant. However, the plant will be operated at 80% capacity of the above to achieve break even of the expenditure and costs involved.

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NMDC Ltd is down for a fifth straight session today. The stock is quoting at 90, down 0.28% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.65% on the day, quoting at 10890.4. The Sensex is at 36335.67, down 0.67%.NMDC Ltd has lost around 4.96% in last one month.Meanwhile, Nifty Metal index of which NMDC Ltd is a constituent, has eased around 6.97% in last one month and is currently quoting at 2945.8, down 2.42% on the day. The volume in the stock stood at 8.62 lakh shares today, compared to the daily average of 55.61 lakh shares in last one month.

The benchmark January futures contract for the stock is quoting at Rs 90.4, down 0.33% on the day. NMDC Ltd tumbled 39.78% in last one year as compared to a 1.74% slide in NIFTY and a 31.05% fall in the Nifty Metal index.

The PE of the stock is 8.14 based on TTM earnings ending September 18.

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NMDC has fixed 18 January 2019 as record date for buyback of shares.

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