NMDC shines after good Q2 outcome

NMDC rose 1.15% to Rs 127.50 at 09:18 IST on BSE after net profit rose 9.54% to Rs 844.30 crore on 25.76% rise in total income to Rs 2531.18 crore in Q2 September 2017 over Q2 September 2016.

The result was announced after market hours yesterday, 13 November 2017.

Meanwhile, the S&P BSE Sensex was down 30.94 points, or 0.09% to 33,002.62.

On the BSE, 34,000 shares were traded in the counter so far, compared with average daily volumes of 3.29 lakh shares in the past one quarter. The stock had hit a high of Rs 128.30 and a low of Rs 127.10 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 102.80 on 27 June 2017.

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

NMDC's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 19.33% to Rs 1312.70 crore in Q2 September 2017 over Q2 September 2016.

NMDC said that average basic domestic iron ore price rose 35.4% to Rs 2276 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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