NMDC drops after reduction in iron ore prices
The company has reduced prices of iron ore fines by 20% or Rs 500 per tonne to Rs 1,960 per tonne and lump ore prices by 6.1% or Rs 200 per tonne to Rs 3,050 per tonne.
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Shares of NMDC were down over nearly 4% at Rs 129 on the Bombay Stock Exchange after the state-owned mining major announced reduction in iron prices.
The company has reduced prices of iron ore fines by 20% or Rs 500 per tonne to Rs 1,960 per tonne and lump ore prices by 6.1% or Rs 200 per tonne to Rs 3,050 per tonne.
The reduction in prices is effective from April 18, 2015, the company said in a release.
The stock opened at Rs 130 and touched a low of Rs 128. At 9:25AM, over 30,000 shares were traded on both the stock exchanges.
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First Published: Apr 20 2015 | 9:26 AM IST