NMDC gains on signing MoU with IIT Kharagpur for drone-based mineral exploration
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NMDC is currently trading at Rs. 153.20, up by 1.95 points or 1.29% from its previous closing of Rs. 151.25 on the BSE.
The scrip opened at Rs. 153.50 and has touched a high and low of Rs. 153.50 and Rs. 152.15 respectively. So far 93293 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. 122.05 on 25-Mar-2021.
Last one week high and low of the scrip stood at Rs. 159.40 and Rs. 146.80 respectively. The current market cap of the company is Rs. 44721.05 crore.
The promoters holding in the company stood at 60.79%, while Institutions and Non-Institutions held 27.16% and 12.05% respectively.
NMDC has signed an MoU with IIT Kharagpur for drone-based mineral exploration. NMDC has been exploring minerals for six decades for a wide range of minerals such as copper, rock phosphate, limestone, magnesite, diamond, tungsten and beach sands amongst others right from the reconnaissance G4 level to the detailed G1 Level of UNFC.
NMDC and IIT Kharagpur would develop spectral products, methods and algorithms for exploration using the Drone (UAV) for mining. The collaboration between NMDC and IIT Kharagpur would further lead to the development of software spectral tools for mineral excavation and capacity building programs on mining technology.
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.
