NMDC announced the retirement of Sandeep Tula, Director (Personnel), NMDC and appointment of Sumit Deb as Director (Personnel) on the Board of NMDC.

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NMDC announced that the Mines Tribunal (Central Government) has issued a stay order against decision of the Karnataka Government regarding withdrawal of extension of mining lease of Donimalai Mine.

The said Stay Order would prohibit Government of Karnataka to take any furtheraction regarding mining lease or initiate auction process of Donimalai mine.

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NMDC Ltd fell for a fifth straight session today. The stock is quoting at Rs 81.9, down 5.15% on the day as on 13:24 IST on the NSE. The benchmark NIFTY is down around 0.59% on the day, quoting at 10853.9. The Sensex is at 36867.62, down 0.52%.NMDC Ltd has eased around 28.41% in last one month.Meanwhile, Nifty Metal index of which NMDC Ltd is a constituent, has eased around 19.26% in last one month and is currently quoting at 2283.2, down 1.73% on the day. The volume in the stock stood at 149.64 lakh shares today, compared to the daily average of 51.25 lakh shares in last one month.

The benchmark August futures contract for the stock is quoting at Rs 82.45, down 4.85% on the day. NMDC Ltd tumbled 20.83% in last one year as compared to a 6.29% slide in NIFTY and a 34.33% fall in the Nifty Metal index.

The PE of the stock is 5.45 based on TTM earnings ending June 19.

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NMDC announced that the prices of Iron Ore w.e.f. 20 August 2019 has been fixed as under -

Lump Ore (65.5%, 6-40mm) @ Rs. 2,900/- per ton
Fines (64%, -10mm)@ Rs. 2,660/- per ton

Note: The above FOR prices are excluding Royalty, DMF , NMET, Cess , Forest Permit Fee and other taxes.

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