NMDC Ltd Share Price (NMDC)

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.

NMDC Launches Portal for Former Employees - 30 Mar, 2024

Central public sector undertaking NMDC has launched a portal called Samman for its former employees to manage medical claims, view personal profiles, dependent details and application status online. The user-friendly portal is designed to ensure on-time reimbursements and easy access to all services, bringing comfort and convenience to the former employees.

NMDC's Growth Prospects Remain Strong Despite Correction - 29 Mar, 2024

Despite a 20% correction since February high due to ease in global iron ore prices, Motilal Oswal Securities maintains a 'Buy' rating on NMDC Ltd with a target price of INR 260. With robust capex plans and dominant presence in the domestic market, NMDC is well placed to capitalize on the growth opportunities ahead.

University of Hyderabad Partners with NMDC for Green Steel Technology - 28 Mar, 2024

The University of Hyderabad has signed a five-year memorandum of understanding with the National Mineral Development Corporation (NMDC) to develop technology for green steel, direct utilization of low-grade iron ore mines in the ironmaking process, mine waste utilization, and other technical areas.

NMDC Wins Five Awards at Governance Now 10th PSU Awards - 27 Mar, 2024

India's largest iron ore producer, NMDC, won five awards at the Governance Now 10th PSU Awards for its CSR commitment, innovation in mining, and HR excellence. The CMD (Addl. Charge) and GM (Corporate Communication) were also honored with leadership awards.

NMDC Ltd Reports Increase in Operating Revenues and After-Tax Profits - 23 Mar, 2024

During Q3FY24, NMDC Ltd's operating revenues increased from Rs 4,014 crores to Rs 5,410 crores, while after-tax profits rose from Rs 1,026 crores to Rs 1,482 crores.

NMDC Explores Lithium Assets, Cuts Prices - 22 Mar, 2024

Indian iron ore miner NMDC Ltd is exploring lithium assets in Africa and Australia while seeking lithium blocks from the Indian government. Additionally, it has cut lumps and fines prices by ₹ 200 per tonne and ₹ 250 per tonne respectively, its first price cut since August 2023.

NMDC Cuts Iron Ore Prices Amidst Global Correction - 21 Mar, 2024

State-owned iron ore miner NMDC has reduced the prices of lump ore and fines by Rs 200 and Rs 250 per tonne, respectively. Analysts predict a further correction in global iron ore prices, leading to a sell recommendation on NMDC with a 16% price target reduction. Every ₹100 per tonne change in fines prices impacts EBITDA by 4%. The stock is trading 0.7% higher at ₹207.30.

Iron Ore Prices in India Unlikely to Come Down Despite Global Cool-Off - 19 Mar, 2024

Lead Analyst Amit Dixit says NMDC is unlikely to take a price cut and export prices are still at a premium. If steel prices fall, iron ore prices may also be under pressure. Marginal cuts by NMDC could occur in April.