NMDC zooms 6% on report Credit Suisse initiates coverage, sees 45% upside

NMDC shares zoomed 6 per cent to quote at Rs 119 apiece on the BSE on Tuesday amid report that foreign brokerage Credit Suisse has initiated coverage on the stock with an 'Outperform' rating. It also has a target price of Rs 162 on the stock, implying around 45 per cent upside from Monday's closing price of Rs 112 on the BSE.

At 9:45 am, the stock was quoting at Rs 116 per share, up 4 per cent on the BSE, as against a 0.5 per cent rise in the S&P BSE Sensex. A combined 7.18 million shares had changed hands