NMDC shines on higher production, offtake in February

Shares of NMDC rose 0.84% to Rs 132.70 after the state-owned miner reported a rise in production and offtake numbers of iron ore in February 2021 over February 2020.

The state-owned company's iron ore sales climbed 11.68% to 3.25 million tonnes (MT) in February 2021 from 2.91 MT in February 2020. Iron ore production jumped 19.14% to 3.86 million tonnes (MT) in February 2021 from 3.24 MT in February 2020.

The announcement was made after market hours yesterday, 1 March 2021.

NMDC is India's single largest iron ore producer, presently producing about 35 million tonnes of iron ore from 3 fully mechanized mines, two located in Chhattisgarh and one in Karnataka. As on 31 December 2020, Government of India held 69.65% stake in the company.

 

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