|Bid||81.65 x 0|
|Ask||82.30 x 0|
|Day's range||81.25 - 83.00|
|52-week range||62.00 - 139.50|
|Beta (5Y monthly)||1.20|
|PE ratio (TTM)||7.00|
|Earnings date||11-Aug-2020 - 15-Aug-2020|
|Forward dividend & yield||10.81 (13.33%)|
|1y target est||129.00|
India's NMDC Ltd said on Friday it had temporarily suspended operations at a key iron ore mine in Chhattisgarh after the state government ordered it to do so. NMDC chairman N.Baijendra Kumar told Reuters he was unsure why Chhattisgarh had instructed it to halt operations. The 6 million tonnes per annum Becheli mine is NMDC's largest, accounting for nearly 40% of its annual production capacity.
Chhattisgarh's chief minister has accused federal government-run NMDC Ltd of diverting Corporate Social Responsibility (CSR) money owed to the state to Prime Minister Narendra Modi's coronavirus fund, according to a letter seen by Reuters. Modi is facing criticism for creating a new coronavirus relief fund PMCares when about $500 million was lying unspent in an older fund, even as top businesses and celebrities pledge millions of dollars in new donations. "NMDC has diverted the rightful CSR funds of people of Chhattisgarh to the newly created PMCares Fund," Chief Minister Bhupesh Baghel said in a May 4 letter to Steel Minister Dharmendra Pradhan.
State-owned miner NMDC is poised to win a multibillion-dollar contract to explore and mine diamonds at a large project abandoned by global miner Rio Tinto, a leading local government official told Reuters. Madhya Pradesh has asked NMDC to explore the Bunder deposits, which could contain millions of carats of diamonds, Neeraj Mandloi, principal secretary at the state's Mineral Resource Department, told Reuters on Friday. The state government last month awarded a smaller portion of the deposit to Essel Mining & Industries, part of Indian conglomerate Aditya Birla Group, Mandloi said.
India's largest state-owned iron ore miner NMDC Ltd said on Tuesday it had received a 20-year extension for four mines in its biggest mining project in the central state of Chhattisgarh. In a statement, the company said Chhattisgarh's government had extended four mining leases in state's Bailadila area, which produced 24 million tonnes out of NMDC's total iron ore production of 33 million tonnes in 2018-19. "Of the five mines in Bailadila Sector, lease of four mines with an installed capacity of over 29 MTPA (million tonnes per annum) has been extended now and one mining lease has already been extended in 2017," the company said.