NMDC gains 2% on hike in iron ore prices; stock goes ex-dividend today

The prices of lumps & fines have been increased by Rs 250 & Rs 100 per tonne, respectively.

NMDC shares, on Monday, were trading 2 per cent higher at Rs 129.30 (adjusted to dividend) on the BSE in intra-day trade in an otherwise subdued market after the company took a price hike of iron ore with effect from March 21, 2021, wherein prices of lumps and fines have been increased by Rs 250 & Rs 100 per tonne, respectively.

After the hike, NMDC lumps or high-grade iron ore (64 per cent Fe, -10 mm) prices are currently at Rs 5,350/tonne (Rs 5,100/ tonne as on March 6, 2021) while fines or inferior grade ore (65.5 per cent