NMDC hits 52-week high after declaring FY 2014 production, dispatches data

NMDC rose 0.9% to Rs 151 at 15:16 IST on BSE after the company unveiled provisional production and dispatches data for the year ended 31 March 2014.

Meanwhile, the BSE Sensex was down 85.26 points, or 0.38%, to 22,630.07

On BSE, so far 3.26 lakh shares were traded in the counter, compared with an average volume of 2.09 lakh shares in the past one quarter.

The stock hit a 52-week high of Rs 153.65 in intraday trade today, 11 April 2014. The stock hit a low of Rs 149 so far during the day. The stock hit a 52-week low of Rs 92.65 on 6 August 2013.

The stock had outperformed the market over the past one month till 10 April 2014, gaining 16.46% compared with the Sensex's 3.56% rise. The scrip also outperformed the market in past one quarter, gaining 7.55% as against Sensex's 9.43% gain.

The large-cap company has an equity capital of Rs 396.47 crore. Face value per share is Re 1.

NMDC during market hours today, 11 April 2014, said that total iron ore production rose 3% to 30.18 million tonnes in the year ended 31 March 2014 (FY 2014) over year ended 31 March 2013 (FY 2013). Despatches rose 4.39% to 30.87 million tonnes in FY 2014 over FY 2013.

NMDC said that it has rolled over the March 2014 prices of lump ore (lumps - Rs 4,500 a wet metric tonne) and fines (Rs 2,910 a wet metric tonne) to the month of April 2014.

NMDC's net profit rose 21.2% to Rs 1567.30 crore on 37.8% rise in net sales to Rs 2821.53 crore in Q3 December 2013 over Q3 December 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 31 March 2014).

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