NMDC share price today: Sharekhan re-initiates coverage with a Buy rating and price target of Rs 165
NMDC has increased the lump-ore prices by 4.9% to Rs 5350 per tonne from Rs 5100 per tonne. Prices of fines have been increased by 2.4% to Rs 4310 per tonne from Rs 4210 per tonne. This is the second time when the prices have increased. The first change was announced on March 6, 2021.
NMDC is in a sweet spot and is expected to benefit from sustained high domestic iron ore prices as a supply deficit in the domestic market is likely to remain until FY2023: Reuters