NMDC Ltd (NMDC)

NMDC Increases Iron Prices - 29 Apr, 2024

India's largest iron ore producer, NMDC, has increased prices by Rs 400 per tonne for lump ore and Rs 200 for fines. The company's shares closed 1.12% lower at Rs 254.90 apiece on the BSE.

NMDC Ltd's Low P/E Ratio No Reason for Excitement - 27 Apr, 2024

Despite a surge in price, NMDC Ltd's low P/E ratio of 11.7x is not unusual compared to other Indian companies with much higher ratios. However, the company's recent strong earnings performance may be causing investors to undervalue it. The sentiment towards NMDC Ltd is NEUTRAL.

LKP Securities Initiates Coverage on NMDC with Buy Rating and Target Price of ₹297 - 25 Apr, 2024

Domestic brokerage firm LKP Securities has initiated coverage on NMDC with a buy rating, establishing a target price of ₹297 per share. The company is well-positioned to benefit from the growing demand for steel in India, capitalize on potential resurgence in capital expenditure, undertake aggressive mine capacity expansion, and has abundant access to high-quality ores for the next four decades. Over FY24E–26E, the brokerage expects revenue, EBITDA, and PAT CAGR of 12.9%, 18.8%, and 19.1%, respectively.

NMDC Shares Surge After Positive Coverage - 24 Apr, 2024

Brokerage LKP Research initiated coverage on NMDC with a Buy call and a target price of Rs 297. FII/FPI increased their stake. Strong Q3FY24 earnings reported. Shares surged over 5%.

NMDC's Iron Ore Production and Sales Surge in FY24 - 16 Apr, 2024

National Mineral Development Corporation (NMDC) registered a YoY growth of 11.67% in iron ore production, producing 45.10 MT in FY24. The company's sales also surged by 16.38% YoY, selling 44.48 MT of steel-making raw material in the same period.

NMDC Faces Corruption Allegations as Analysts Predict Strong Q4 Results - 15 Apr, 2024

NMDC Ltd faces allegations of corruption after the CBI registered an FIR against company officials and others for receiving bribes. Meanwhile, analysts predict strong Q4 results, with Prabhudas Lilladher expecting a net profit of Rs 1,660 crore, up 16.9% YoY.

CBI Books Officials of NMDC Ltd and Megha Engineering for Corruption - 13 Apr, 2024

The CBI has booked eight officials of NMDC Ltd and two officials of MECON Ltd, along with Megha Engineering, for corruption in the Rs 315-crore NISP project. The accused allegedly received bribes and payments against invoices from Subhash Chandra Sangras, general manager at Megha Engineering and unknown others.

HDFC Securities Recommends Buying NMDC with Target Price of Rs. 73 - 12 Apr, 2024

NMDC Ltd's stock price has bounced back from a recent low and consistently making higher tops and bottoms over the last two weeks. On Wednesday, the stock broke out of the recent trading range on huge volumes, suggesting more upside potential. HDFC Securities recommends buying NMDC with a target price of Rs. 73 and a stop-loss of Rs. 61.

NMDC Stock Rises as Company Declares Interim Dividend - 11 Apr, 2024

NMDC Ltd's stock has risen by 15% in the past three months, driven by its high ROE of 26%. The company declared an INR 5.75 interim dividend per share, supported by growing profits and sustainable payout ratios.

NMDC Plans Expansion Amid Production Growth - 10 Apr, 2024

As the largest domestic producer of iron ore, NMDC is set to produce around 45 million tonnes of ore in FY24, with plans to expand its product mix and capacity to 100 mt by FY30. Additionally, it has proposed acting as a distributor for steel produced by its subsidiary, NMDC Steel Ltd.

NMDC Stock Up on Positive Trading Day; Gali Anupama Recommended as Director (Finance) - 09 Apr, 2024

NMDC Ltd's stock has risen 1.49% on the NSE and trading volume stands at 95.58 lakh shares. Meanwhile, Gali Anupama has been recommended for the position of Director (Finance) by the Public Enterprises Selection Board.

NMDC Falls Short of Annual Production Target - 04 Apr, 2024

India's largest iron ore producer, NMDC, produced 45mt in FY24, falling short of its annual production target of about 47 million tonnes. Despite a drop in Ebitda margin and sales volume growth slowdown, the company plans to ramp up mining capacity from less than 50 million tonnes currently to 100 million tonnes by FY30.

NMDC Reports Decline in Iron Ore Production and Sales - 02 Apr, 2024

NMDC Ltd recorded a decline in iron ore production and sales in March 2024 due to weak performance in Karnataka. However, the company's full-year production and dispatch increased, and its consolidated net profit surged in Q3 FY24.

NMDC Receives Positive Buy Call from Motilal Oswal - 01 Apr, 2024

Domestic brokerage firm Motilal Oswal has given NMDC Ltd a Buy call with a target price of Rs 260, citing the company's expected production of 45 million tonnes of iron ore in FY24 and its planned capex for capacity enhancement projects. The company's stock jumped by approximately 6% following the announcement. NMDC also reported positive Q3FY24 operating revenues and bottom-line numbers.