NMDC inches up in early trade

NMDC rose 0.11% to Rs 132.20 at 9:16 IST on BSE after the company said it has signed three MoUs with the Government of Chhattisgarh for three projects.

The announcement was made after market hours yesterday, 11 May 2015.

Meanwhile, the S&P BSE Sensex was down 194.80 points or 0.71% at 27,312.50.

On BSE, so far 1,902 shares were traded in the counter as against average daily volume of 1.42 lakh shares in the past two weeks.

The stock hit a high of Rs 132.70 and a low of Rs 132 so far during the day.

NMDC said after market hours yesterday, 11 May 2015, that it has signed three memorandum of understanding (MoUs) for setting up Ultra Mega Steel Plant in Bastar Region (Ministry of steel, Government of Chhattisgarh, SAIL and NMDC): development of railway line from Jagdalpur to Rowghat (Government of Chhattisgarh, SAIL, NMDC and IRCON) and slurry Pipeline & Pellet Plant (Government of Chhattisgarh and NMDC).

NMDC's net profit rose 1.6% to Rs 1593.01 crore on 4.4% growth in net sales to Rs 2944.39 crore in Q3 December 2014 over Q3 December 2013.

The Government of India (GoI) held 80% stake in NMDC (as per the shareholding pattern as on 31 March 2015).

Powered by Capital Market - Live News