NMDC gains on price hike buzz

NMDC rose 1.57% to Rs 129.15 at 11:06 IST on BSE on reports that the company has raised prices of iron ore lumps and fines by Rs 90 to Rs 100 a tonne.

Meanwhile, the BSE Sensex was down 96.28 points, or 0.48%, to 20,152.98.

On BSE, 1.69 lakh shares were traded in the counter compared with average volume of 2.40 lakh shares in the past one quarter.

The stock hit a high of Rs 130.45 and a low of Rs 126.60 so far during the day. The stock hit a 52-week high of Rs 192.20 on 12 October 2012. The stock hit a 52-week low of Rs 92.65 on 6 August 2013.

The stock had underperformed the market over the past one month till 9 October 2013, rising 4.95% compared with the Sensex's 5.08% rise. The scrip had, however, outperformed the market in past one quarter, soaring 23.57% as against Sensex's 4.17% rise.

The large-cap state-run iron ore miner has an equity capital of Rs 396.47 crore. Face value per share is Re 1.

NMDC's net profit fell 17.51% to Rs 1572.19 crore on 0.02% decline in total income to Rs 3391.53 crore in Q1 June 2013 over Q1 June 2012.

State-run NMDC is India's single largest iron ore producer and exporter. The Government of India (GoI) holds 80% stake in NMDC (as per the shareholding pattern as on 30 June 2013).

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