NMDC is trading lower by around 2% at Rs 165 on the National Stock Exchange on reports that state-run miner reduced the price of iron ore lumps by 5.9% or Rs 320 a tonne for the current month mainly to align rates with the landed cost of the imported raw material.
"Iron ore fine prices have been kept unchanged for the month of January but lump prices have been cut by 5.9% (Rs 320 per tonne)," the PTI report suggests quoting a source present in board meeting.
The stock opened at Rs 168 and has seen a combined around 950,000 shares changing hands on the counter in opening deals on both the exchanges.
