Net profit of NMDC declined 24.63% to Rs 636.37 crore in the quarter ended September 2018 as against Rs 844.30 crore during the previous quarter ended September 2017. Sales rose 0.69% to Rs 2437.92 crore in the quarter ended September 2018 as against Rs 2421.33 crore during the previous quarter ended September 2017.

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The announcement was made after market hours yesterday, 6 November 2018.

Meanwhile, the S&P BSE Sensex was up 246.37 points, or 0.70% to 35,238.28.

On the BSE, 2599 shares were traded in the counter so far compared with average daily volumes of 2.34 lakh shares in the past two weeks. The stock had hit a high of Rs 113.50 and a low of Rs 111.20 so far during the day.

NMDC said that lease deed of Donimalai Iron Ore Mine expired on 3 November 2018. The Karnataka State Government has already extended the lease of Donimalai Mine with effect from 4 November 2018 for 20 years. Other formalities are in the process.

NMDC is India's single largest iron ore producer, presently producing about 30 million tonnes of iron ore from 3 fully mechanized mines viz., Bailadila Deposit-14/11C, Bailadila Deposit-5, 10/11A (Chhattisgarh State) and Donimalai Iron Ore Mines (Karnataka State).

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NMDC Ltd is up for a third straight session today. The stock is quoting at Rs 116, up 1% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.34% on the day, quoting at 10517.35. The Sensex is at 34897.61, down 0.33%. NMDC Ltd has gained around 7.11% in last one month.

Meanwhile, Nifty Metal index of which NMDC Ltd is a constituent, has gained around 3.32% in last one month and is currently quoting at 3439.25, up 0.32% on the day. The volume in the stock stood at 9.66 lakh shares today, compared to the daily average of 28.03 lakh shares in last one month.

The benchmark November futures contract for the stock is quoting at Rs 116.2, up 0.96% on the day. NMDC Ltd is down 11.21% in last one year as compared to a 0.63% jump in NIFTY and a 12.69% jump in the Nifty Metal index.

The PE of the stock is 9.75 based on TTM earnings ending June 18.

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NMDC announced the production and sale of iron ore (provisional) up to the month of September 2018 as under -

Total Production up to 30 September 2018 - 12.21 million tonnes
Chhattisgarh - 7.50 million tonnes
Karnataka - 4.71 million tonnes

Total Sales up to 30 September 2018 - 13.40 million tonnes
Chhattisgarh - 9.60 million tonnes
Karnataka - 3.80 million tonnes

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