NMDC slips on buzz of reduction in iron ore lump price

Meanwhile, the BSE Sensex was up 16.44 points, or 0.08%, to 19,730.68.

On BSE, 3.68 lakh shares were traded in the counter as against an average daily volume of 4.01 lakh shares in the past one quarter.

The stock hit a high of Rs 167.05 and a low of Rs 163.50 so far during the day. The stock had hit a 52-week high of Rs 206.35 on 16 February 2012. The stock had hit a 52-week low of Rs 149.95 on 10 December 2012.

The stock had outperformed the market over the past one month till 2 January 2013, rising 3.17% compared with the Sensex's 1.94% rise. The scrip had, however, underperformed the market in past one quarter, sliding 12.92% as against Sensex's 4.73% rise.

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

NMDC, however, decided to keep the price of iron ore fines, which have less iron content, unchanged at Rs 2,610 per tonne, reports added.

Iron ore lumps and fines are key inputs in manufacturing steel.

NMDC's net profit fell 14.5% to Rs 1678.62 crore on 14.7% decline in net sales to Rs 2611.84 crore in Q2 September 2012 over Q2 September 2011.

State-run NMDC is India's single largest iron ore producer and exporter, presently producing about 30 million tonnes of iron ore from 3 fully mechanized mines in Chhattisgarh and Karnataka.

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