NMDC shines on aiming at commissioning greenfield integrated steel plant by Q4FY22
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NMDC is currently trading at Rs. 150.40, up by 3.40 points or 2.31% from its previous closing of Rs. 147.00 on the BSE.
The scrip opened at Rs. 148.50 and has touched a high and low of Rs. 152.00 and Rs. 148.50 respectively. So far 177518 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 213.15 on 12-May-2021 and a 52 week low of Rs. 75.60 on 24-Sep-2020.
Last one week high and low of the scrip stood at Rs. 168.50 and Rs. 145.25 respectively. The current market cap of the company is Rs. 43079.91 crore.
The promoters holding in the company stood at 68.29%, while Institutions and Non-Institutions held 24.94% and 6.77% respectively.
NMDC is aiming at commissioning its 3 million tonne per annum (mtpa) greenfield integrated steel plant under NMDC Iron & Steel Plant (NISP) at Nagarnar, located 16 km from Jagdalpur in Chhattisgarh state by early Q4 (January-March 2022). The company has started the filing process with stock exchanges and SEBI for its demerger.
The capex outlay for the company in 2021-22 is around Rs 3,750 crore and of which Rs 2150 crore will be for the steel project. The decision to construct the NISP was taken keeping in view the linkage with iron ore reserves and availability of investible surplus. Demerger and listing of the new steel company may take about another 4-5 month.
NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.
