NMDC Ltd (NMDC)

Nifty Metal Index Gains for Fourth Session in a Row - 16 May, 2024

NMDC Ltd, along with other metal stocks like Tata Steel, Hindalco, and Vedanta, edged higher by over 1%. JSW Steel was the only exception, slipping over 1% lower. The Nifty Metal index closed marginally higher by 0.3% at 9,377.

NMDC Explores Lithium Mines Overseas; Buy Call from Brokerage - 15 May, 2024

State-owned Coal India and NMDC are exploring lithium mines in Chile and Australia, while other state-owned companies are encouraged to scout for critical minerals overseas. Meanwhile, brokerage Motilal Oswal recommends buying NMDC stock as a technical pick with a target of Rs 285 following the company's strong Q3 FY24 results.

NMDC Ltd Expected to Move Upward - 14 May, 2024

NMDC Ltd has retraced to its breakout level of 252 and formed a bullish Doji candlestick at the support level. With favorable sentiment surrounding metal stocks, there is an expectation for NMDC to move upward towards potential targets of 272 and higher. It's advisable to establish a stop loss at 244.

NMDC Receives Buy Recommendation from Sharekhan - 13 May, 2024

Brokerage firm Sharekhan has recommended a BUY for NMDC due to its strong fundamentals. Top officials from NMDC have also rushed to Visakhapatnam Steel Plant to assess the situation.

NMDC Ltd Stock Remains in Uptrend - 10 May, 2024

The NMDC stock has re-tested its breakout mark of 255 on daily and weekly timeframe charts, with the RSI (14) around 56. The overall momentum remains strong, and a strict stop loss should be kept at 245 to manage risk well. Potential targets are 280 and above.

NMDC Stock Breaks Out From Consolidation Range - 08 May, 2024

NMDC Ltd's stock has more than doubled investors' wealth in the last one year and recently broke out from a narrow consolidation range, opening room for it to hit a fresh multi-year high. Short-term traders with a high-risk profile can look to buy the stock for a target of Rs 355 in the next 2-3 months.

NMDC Awards Drone Survey Contract to IG Drones - 07 May, 2024

NMDC Ltd has awarded a work order to IG Drones for conducting a comprehensive drone survey at the Diamond Mining Project in Panna, Madhya Pradesh. The contract spans three financial years and will help reduce surveillance costs while facilitating an accurate survey through the latest drone technology.

NMDC Shares Reach 14-Year High on Iron Ore Sales Growth - 06 May, 2024

NMDC Limited's shares reached a 14-year high after reporting growth in iron ore sales and raising prices. The company also offers a promising dividend yield and has shown recent financial improvements.

NMDC Reports Growth in Iron Ore Sales for April - 02 May, 2024

State-owned NMDC Ltd reported a 2.91% rise in sales of iron ore at 3.53 metric tonnes in April compared to the year-ago period, despite a decline in production. The company also increased prices by ₹400 per tonne for lump ore and ₹200 for fines. Shares rose over 2% on the news.

NMDC Raises Iron Ore Prices; Stock Hits Multi-Year High - 30 Apr, 2024

NMDC Ltd, India's largest producer of iron ore, raised its lump ore prices by Rs 400 per tonne to Rs 6,200 per tonne and fines by Rs 200 per tonne to Rs 5,260 per tonne. The stock hit a record high of Rs 261.4 on April 29, 2024, rising from Rs 108 recorded on April 26, 2023, with experts suggesting short-term traders can buy the stock for a target of Rs 285 in the next 3-4 weeks.

NMDC Increases Iron Prices - 29 Apr, 2024

India's largest iron ore producer, NMDC, has increased prices by Rs 400 per tonne for lump ore and Rs 200 for fines. The company's shares closed 1.12% lower at Rs 254.90 apiece on the BSE.

NMDC Ltd's Low P/E Ratio No Reason for Excitement - 27 Apr, 2024

Despite a surge in price, NMDC Ltd's low P/E ratio of 11.7x is not unusual compared to other Indian companies with much higher ratios. However, the company's recent strong earnings performance may be causing investors to undervalue it. The sentiment towards NMDC Ltd is NEUTRAL.

LKP Securities Initiates Coverage on NMDC with Buy Rating and Target Price of ₹297 - 25 Apr, 2024

Domestic brokerage firm LKP Securities has initiated coverage on NMDC with a buy rating, establishing a target price of ₹297 per share. The company is well-positioned to benefit from the growing demand for steel in India, capitalize on potential resurgence in capital expenditure, undertake aggressive mine capacity expansion, and has abundant access to high-quality ores for the next four decades. Over FY24E–26E, the brokerage expects revenue, EBITDA, and PAT CAGR of 12.9%, 18.8%, and 19.1%, respectively.

NMDC Shares Surge After Positive Coverage - 24 Apr, 2024

Brokerage LKP Research initiated coverage on NMDC with a Buy call and a target price of Rs 297. FII/FPI increased their stake. Strong Q3FY24 earnings reported. Shares surged over 5%.