NMDC Ltd Share Price – NSE  /  BSE

Mining & Mineral products, Mid Cap

NMDC Ltd is up for a third straight session today. The stock is quoting at Rs 227.45, up 1.49% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.12% on the day, quoting at 22693.5. The Sensex is at 74881.64, up 0.19%. NMDC Ltd has slipped around 0.61% in last one month.

Meanwhile, Nifty Metal index of which NMDC Ltd is a constituent, has slipped around 8.24% in last one month and is currently quoting at 8794.65, up 1.54% on the day. The volume in the stock stood at 95.58 lakh shares today, compared to the daily average of 175.33 lakh shares in last one month.

The benchmark April futures contract for the stock is quoting at Rs 228.7, up 1.6% on the day. NMDC Ltd is up 105.19% in last one year as compared to a 28.76% jump in NIFTY and a 60.32% jump in the Nifty Metal index.

The PE of the stock is 11.36 based on TTM earnings ending December 23.

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Iron ore sales in the month of March 2024 stood at 3.96 MT, registering a decrease of 18.18% as compared to 4.84 MT recorded in the same period a year ago.

Sequentially, the PSU miner's iron ore production grew by 23.98% and iron ore sales fell by 0.75% in March 2024 over February 2024.

On full year basis, total production increased 10.48% to 45.10 MT in FY24 as against 40.82 MT in FY23. The total sales increased 16.38% to 44.48 MT in FY24 as compared to 38.22 MT sold in FY23.

NMDC is India's single largest iron ore producer, presently producing about 35 million tonnes of iron ore from 3 fully mechanized mines, two located in Chhattisgarh and one in Karnataka. As of December 2023, the Government of India held 60.79% stake in the firm.

The company’s consolidated net profit jumped 67.7% to Rs 1,492.68 crore on 45.43% increase in revenue from operations to Rs 5,409.90 crore in Q3 FY24 over Q3 FY23.

The scrip declined 0.45% to Rs 211.65 on the BSE.

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NMDC announced revision in prices of iron ore with effect from 21 March 2024 as under:

i) Lump Ore (65.5%, 10-40mm) @ Rs.5,800/- per ton.

ii) Fines (64%,-10mm) @ Rs.5,060/- per ton.

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According to the latest update by the company, the prices for Lump Ore (65.5%, 6-40mm) have been set at Rs 5,800 per ton, while Fines (64%,-10mm) are priced at Rs 5,060 per ton.

Comparatively, the prices in effect from 24 January 2023, were as follows: Lump Ore (65.5%, 6-40mm) at Rs 6,000 per ton and Fines (64%,-10mm) at Rs 5,310 per ton.

These new price adjustments reflect a slash of Rs 200 per ton for Lump Ore and Rs 250 per ton for Fines.

NMDC is India's single largest iron ore producer, presently producing about 35 million tonnes of iron ore from 3 fully mechanized mines, two located in Chhattisgarh and one in Karnataka. As of December 2023, the Government of India held 60.79% stake in the firm.

The company’s consolidated net profit jumped 67.7% to Rs 1,492.68 crore on 45.43% increase in revenue from operations to Rs 5,409.90 crore in Q3 FY24 over Q3 FY23.

The scrip fell 0.12% to currently trade at Rs 205.50 on the BSE.

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