'Buy' NMDC share, says Sharekhan, keep stop-loss at Rs 136 and target price at Rs 147
Sharekhan says that NMDC has resumed iron ore price hikes with cumulative increase of Rs 750/Rs 350 per tonne for iron ore lump/fines over March-April 2021 (post a steep cut of Rs. 600/tonne in February 2021). Sharekhan says that NMDC’s current iron ore lump/fines prices of Rs 5850 / Rs 4560 per tonne is 51%/35% higher as compared to average price of Rs 3880 / Rs 3387 in FY2021E
Sharekhan says that NMDC’s current iron ore lump/fines prices of Rs 5850 / Rs 4560 per tonne is 51%/35% higher as compared to average price of Rs 3880 / Rs 3387 in FY2021E: Reuters