Worst may be over for NMDC stock: Cash flows likely to improve, say experts

Margins may have bottomed out, say analysts

It’s been a roller coaster ride for the public sector undertaking (PSU) National Mineral Development Corporation or NMDC since the declaration of its July-September quarter results for the 2022-23 financial year (Q2FY23). The stock price went up to Rs 114 prior to the results and then dropped to Rs 105 before recovering to its current market price of Rs 111.

The metals and mining major saw a decline in net sales, of 51 per cent year-on-year (YoY) and 30 per cent quarter-on-quarter (QoQ), to Rs 3,300 crore in Q2. Iron ore sales volumes fell 6 per cent YoY (up 8