After market rally, iron-ore miner NMDC stock to price in positives

While prospects look good, the share price has run up considerably and many analysts feel the stock is fully priced or expensive at current levels

NMDC, the country’s largest iron-ore miner, posted a consolidated revenue in the January-March quarter of FY24. This was in line with estimates at Rs 6,500 crore, which was up 11 per cent year-on-year (Y-o-Y), and a 20 per cent quarter-on-quarter (Q-o-Q) rise on the back of realisations.

Iron-ore production was 13.3 million tonnes (down 6 per cent and up 8 per cent Q-o-Q), while the sales stood at 12.5 MT (up 1 per cent Y-o-Y and up 10 per cent Q-o-Q). The average selling price (ASP) improved to Rs 5,174 per tonne (up 10 per cent Y-o-Y and 9 per