NMDC advances after keeping iron ore prices unchanged

NMDC gained 1.14% to Rs 123.70 at 10:40 IST on BSE after the company fixed prices of lump and fine iron ores unchanged for this month compared to those of last month.

The announcement was made during market hours today, 16 November 2017.

Meanwhile, the S&P BSE Sensex was up 139.87 points, or 0.43% to 32,900.31.

On the BSE, 56,427 shares were traded in the counter so far, compared with average daily volumes of 3.33 lakh shares in the past one quarter. The stock had hit a high of Rs 124.20 and a low of Rs 122.25 so far during the day. The stock had hit a 52-week high of Rs 152.50 on 2 March 2017. The stock had hit a 52-week low of Rs 102.80 on 27 June 2017.

The stock had outperformed the market over the past one month till 15 November 2017, advancing 1.66% compared with the Sensex's 1.01% rise. The scrip had, however, underperformed the market over the past one quarter gaining 1.12% as against the Sensex's 4.17% rise. The scrip had also underperformed the market over the past one year rising 3.64% as against the Sensex's 24.54% rise.

The large-cap company has equity capital of Rs 316.39 crore. Face value per share is Re 1.

NMDC said that it has fixed price of lump iron ore at Rs 2,300 per ton and price of fine iron ore at Rs 2,060 per ton with effect from 3 November 2017. The prices were kept unchanged with respect to last month's prices.

NMDC's net profit rose 9.5% to Rs 844.30 crore on 39.2% rise in net sales to Rs 2421.33 crore in Q2 September 2017 over Q2 September 2016.

NMDC is India's largest public sector iron ore producer. As per the shareholding pattern, Government of India (GoI) holds 74.94% stake in NMDC as on 30 September 2017.

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