|Bid||0.00 x 0|
|Ask||93.20 x 0|
|Day's range||93.00 - 97.20|
|52-week range||86.45 - 124.30|
|Beta (3Y monthly)||0.73|
|PE ratio (TTM)||7.74|
|Earnings date||28 May 2019|
|Forward dividend & yield||5.52 (5.51%)|
|1y target est||129.00|
The domestic steel production and demand are expected to grow at 6%-7%, at a time when production and consumption in major countries such as China, Japan and the EU nations are likely to stagnate in the near future, said N Baijendra Kumar, CMD, NMDC.
Government-owned NMDC Limited is ramping up its iron ore mining capacity and is planning to set up a new integrated steel manufacturing plant at a cost of 2.2 billion dollars (about Rs 15,335 crore). It will produce flat products like hot rolled plates, sheets, coils, automotive steel and API grade steel to the tune of 2.7 million tonnes.
NMDC is currently shipping about 23 mtpa iron ore from this complex. In the worst case, if outcome in the Donimalai judgment is not favourable, NMDC will still have 17 mtpa profitable capacity.
India's biggest iron ore miner NMDC Ltd on Monday sued Karnataka to block demands for a bigger share of revenue from the sale of iron ore from a local mine, said a senior state-level official. Rajender Kataria, the state's mining secretary, told Reuters on Monday a court will hear the matter on Jan. 10. Karnataka plans to auction the Donimalai iron ore mine as NMDC, majority owned by the Indian government, refused to pay an additional levy on ore sales from the mine, he said.
The government of Karnataka on Friday warned NMDC Ltd that it will cancel the lease of its Donimalai iron ore mine if the state-owned miner refuses to pay an additional levy on the sale of its ore. Karnataka's threat to cancel the lease stems from a dispute between NDMC, India's biggest iron ore miner, and the state government over its decision to impose an 80 percent premium on ore sales from Donimalai. Karnataka levied the premium when it renewed NDMC's license for Donimalai on Nov. 2.
The latest earnings announcement NMDC Limited (NSE:NMDC) released in March 2018 revealed that the company benefited from a robust tailwind, leading to a double-digit earnings growth of 50%. Below, I’ve Read More...
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Indian state-owned miner NMDC is the highest bidder in a government e-auction for a gold mine in Andhra Pradesh, beating resources conglomerates Vedanta and Adani, NMDC Chairman Baijendra Kumar told Reuters. NMDC is expected to invest about 4 billion rupees ($58.3 million) in the project, Kumar said without providing further detail on the company's bid. The state government is likely to notify NMDC as the bid winner some time next week, said Sreenivas Chowdary, deputy director of mines for Andhra Pradesh, confirming that Adani and Vedanta Resources had also bid.
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