Page 5 - Nmdc

BSE 200 scorecard: From IGL to Zee, reading the tea leaves from FPI move

Krishna Kant and Ram Prasad Sahu track the investments made by foreign portfolio investors in BSE 200 companies - a move that is seen as pivotal to the future of a stock on bourses

3 directors of SAIL, NMDC suspended for misconduct with immediate effect

The Steel Ministry has suspended two board-level officials of steel PSU SAIL and one director of iron ore major NMDC for alleged misconduct, according to exchange filings by the companies. SAIL also has suspended 26 other officials with immediate effect for violation of its code of conduct, the steel PSU said in a filing to BSE. The filing said the Ministry of Steel vide its letters dated January 19, 2024, "in exercise of the powers conferred by sub-rule (1) of Rule 20 of the Conduct, Discipline and Appeal Rules, 1977 of Steel Authority of India Limited, has placed V.S. Chakravarthy, Director (Commercial) and A.K. Tulsiani, Director (Finance) on suspension with immediate effect". Another Steel Ministry PSU NMDC also announced that its board-level official, V. Suresh, has been suspended with immediate effect. "Ministry of Steel...in exercise of the powers conferred by sub-rule 1 of Rule 20 of the Conduct, Discipline and Appeal Rules, 1978 of NMDC Ltd. has placed V. Suresh, Director

Scaling up to meet domestic demand, no plans to export to China: NMDC

Reuters reported on Wednesday that the federal government had turned down a request from the company to export iron ore to China

India rejects iron ore miner NMDC's proposal for China exports -sources

China accounts for around 80% of India's overall iron ore shipments. India primarily exports low-grade iron ore - with iron content below 58% and most of India's shipments go to China

Stocks to Watch: TCS, JSW Steel, NMDC, PFC, ONGC, HPCL, LTIMindtree, Apar

Stocks to Watch on November 24, 2023: TCS will turn ex-buyback today; govt plans to ask ONGC to consider launching a rights issue to help fund green projects at refining arm Hindustan Petroleum Corp

NMDC Q2 net profit rises 15% to Rs 1,028 cr on strong iron ore sales

The company witnessed a nearly 21% growth in revenue generated from its iron ore segment from the previous year

Iron ore supply resumes from NMDC Bailadila mine to RINL plant in Andhra

Iron ore supply from NMDC's Bailadila mine in Chhatisgarh resumed on Tuesday to its plant in Andhra Pradesh, steel maker RINL said. Iron ore is a key raw material required for the manufacturing of steel. "With the continuous and relentless efforts by Indian Railways, the KK line operations were restored on October 10, 2023, and supply iron ore/rake movement to RINL from NMDC mines resumed," the Visakhapatnam-based entity said in a statement. RINL further said that there was a major landslide in the KK line between Jaypore and Koraput during the early hours of September 24, 2023, and supplies from NMDC Bailadila sector, which is the main source of iron ore supplies for the company, had to be stopped. This created a massive challenge for sustaining the plant operations as the inflow of iron ore was already constrained and the stock level of iron ore had reached a critical level because of heavy monsoon rain in the mines area, it added. Meanwhile, RINL made alternate arrangements fro

NMDC steel plant to give employment to 50,000 people in state, says PM Modi

Prime Minister Narendra Modi said that the dream of a developed Bharat will "only be realised when states, districts, and villages develop in the country"

Under BJP, whoever goes to jail will not get bail: Chhattisgarh CM Baghel

Chhattisgarh Chief Minister Bhupesh Baghel said that more than (stray) dogs and cats, the Enforcement Directorate and Income Tax are moving around

PM Modi inaugurates projects worth Rs 27,000 cr in Chhattisgarh's Bastar

PM Modi inaugurated the NMDC Steel Limited steel plant at Nagarnar in Bastar district, which is built at a cost of Rs 23,800 crore and will produce high-quality steel

Chhattisgarh polls: CM Bhupesh Baghel rides motorbike in Durg to lead yatra

The "Bharosa yatra" by the Congress is aimed at propagating the works done by the ruling Congress in the last five years in the state

PM to visit Chhattisgarh on Tuesday, will inaugurate NMDC's steel plant

Prime Minister Narendra Modi will address a public meeting in Jagdalpur city in poll bound Chhattisgarh on Tuesday and also dedicate to the nation and lay foundation stones of several projects worth Rs 26,000 crore, including the NMDC's steel plant. Incidentally, the Congress has called for a 'bandh' (shutdown) in the region during the PM's visit alleging the Modi government wants to privatise the steel plant, which is located in Nagarnar village, some 22 kilometres from Jagdalpur in Bastar district. It will be Modi's fourth visit in the last two-and-half months to the Congress-ruled state, where Assembly polls are likely to be held at the end of the year. "The PM's programme will be held at 11 am at Lalbag Maidan in Jagdalpur, the headquarter of Bastar district. He will dedicate to the nation the greenfield NMDC Steel Ltd Steel Plant built at a cost of more than Rs 23,800 crore in Nagarnar," a PIB release said. "It will produce high quality steel and will provide employment ...

NMDC's low-grade iron ore export to China hindered by logistics: Report

Indian producers of low-grade ores largely depend on foreign markets because most major domestic steel producers use high-grade iron ores

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Stocks to Watch on August 21, 2023: Jio Financial Services will be listed on the exchanges today. Experts believe the stock could top the Rs 300-mark on listing

NMDC's consolidated net profit grows 13% to Rs 1,661 cr in June quarter

Iron ore company NMDC on Friday posted a 13 per cent rise in its consolidated net profit to Rs 1,661.04 crore in the April-June quarter, boosted by higher income. It had clocked a net profit of Rs 1,471.24 crore in the April-June period of the 2022-23 fiscal, the company said in a regulatory filing. The company's total income surged to Rs 5,688.87 crore from Rs 4,913.06 crore in the year-ago quarter. Total expenses also grew to Rs 3,476.55 crore as compared to Rs 2,968.94 crore a year ago. Hyderabad-based NMDC, under the Ministry of Steel, is the country's largest iron ore mining company.

Stocks to watch: L&T Tech, Paytm, Rallis India, Piramal Pharma, NMDC

Stocks to watch on July 19, 2023: From Paytm to Piramal Pharma, here are the top stocks to watch in Wednesday's trading session

Ore price fixed at Rs 4,950 per tonne, cess to be levied additionally: NMDC

State-owned NMDC on Tuesday fixed the rates for lump ore and fines at Rs 4,950 and Rs 4,210 per tonne, respectively. Lump ore, or high-grade iron ore, contains 65.53 per cent iron, while fines are inferior grade ore with 64 per cent iron or less. The latest prices are inclusive of royalty as well as contributions to District Mineral Foundation (DMF) and National Mineral Exploration Trust (NMET). Cess, forest permit fee, and other taxes will be levied additionally, the miner said in a regulatory filing. On May 30, NMDC fixed the rate of lump ore and fines at Rs 3,900 and Rs 3,560 per tonne, respectively. At that time, the rates excluded royalty, contributions to DMF and NMET, cess, forest permit fee and other taxes. "Inclusion of royalty, DMF, and NMET brings the prices on a par with the rates of miners in Odisha. Customers will now find it easier to calculate the prices of iron ore," a SteelMint analyst said. Iron ore is one of the key raw materials used in manufacturing steel,

State-owned NMDC iron ore output grows 20% 10.70 MT in April-June

State-owned NMDC has posted 20 per cent growth in iron ore production to 10.70 million tonne (MT) in the first quarter of FY24. NMDC produced 8.92 MT of iron ore during April-June of FY23, the company said in a regulatory filing. Sales rose to 11.15 MT from 7.66 MT in the year-ago period, registering a 45 per cent rise. "NMDC's contribution to the country's economy continues to make massive headway in meeting the increase in the demand for iron ore. Our record of highest ever Q1 and June production and sales since inception resonates with our agile and diligent investments in mine planning, expansion and very efficient human assets," its CMD Amitava Mukherjee said. Hyderabad-based NMDC (formerly known as National Mineral Development Corporation) under the Ministry of Steel contributes over 17-20 per cent to India's total iron ore production.

Iron ore miner NMDC plans $61 mn investment to foray into gold mining

NMDC is "on track" to secure a lease for the Chigargunta-Bisanatham gold block soon, having signed a letter of intent over the project with the state government late last year

Chhattisgarh government scouts for land for industry in Bastar region

NMDC would feed the raw material to the plant from its two mechanised iron ore mines located about 100 km from the plant in Dantewada district