State-run mining firm NMDC's shares have been included in Nifty 50 today.
In a statement, NMDC said the shares were included in the CNX NIFTY Index of NSE and the company’s present market capitalisation is around Rs 53,000 crore.
C S Verma, chairman and managing director NMDC said the inclusion of NMDC shares in CNX Nifty Index of NSE is a historic occasion which will lead to greater visibility and bring out the true potential of the Company.
He said the company’s mining projects are highly mechanised and NMDC is known as one of the low cost producers of iron ore in the world. The vision of the company is to mould itself into a very large multi-faceted organization with mining being its core activity and expanding into value added project such as steel and pellet making.
The inclusion of NMDC in Nifty 50 also portrays inherent strength and dynamism that will go a long way in making NMDC as India’s most valuable Company in the times to come.
