NMDC gains after good Q1 results

NMDC rose 2.18% to Rs 129 at 9:32 IST on BSE after net profit rose 36.2% to Rs 969.20 crore on 65.1% growth in net sales to Rs 2841.53 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours yesterday, 9 August 2017.

Meanwhile, the S&P BSE Sensex was down 157.36 points, or 0.49% to 31,640.48.

On the BSE, 1.70 lakh shares were traded in the counter so far, compared with average daily volumes of 2.60 lakh shares in the past one quarter. The stock had hit a high of Rs 129.65 and a low of Rs 126.80 so far during the day. The stock hit a 52-week high of Rs 152.50 on 2 March 2017. The stock hit a 52-week low of Rs 98.75 on 11 August 2016.

The stock had outperformed the market over the past one month till 9 August 2017, rising 7.54% compared with 0.16% rise in the Sensex. The scrip had underperformed the market in past one quarter, rising 1.04% as against Sensex's 5.11% rise. The scrip had outperformed the market in past one year, rising 26.57% as against Sensex's 14.48% rise.

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

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 June 2017.

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