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NMDC is currently trading at Rs. 225.95, up by 1.25 points or 0.56% from its previous closing of Rs. 224.70 on the BSE. The scrip opened at Rs. 225.00 and has touched a high and low of Rs. 226.25 and Rs. 222.35 respectively. So far 167974 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 286.35 on 21-May-2024 and a 52 week low of Rs. 166.70 on 15-Nov-2023. Last one week high and low of the scrip stood at Rs. 246.2...
NMDC gains as its consolidated net profit rises 17% in Q2FY25
Government-owned National Mineral Development Corporation (NMDC), India's largest iron ore producer, has registered its best-ever October performance since inception with a record production of 4.07 million tonnes (MT) and sales of 4.03 MT, according to a statement issued by the Steel Ministry on Saturday. While NDMC's production of iron ore has gone up by 3.8 per cent, its sales have surged by as much as 17.15 per cent compared to the same month last year. NMDC'...
NMDC`s iron ore production soars to record high in October
Rising steel demand, capacity expansion to boost growth Volume growth to be robust in 2HFY25 * In 2QFY25, NMDC reported production volume of 8.3mt, down 10% QoQ and 6% YoY, totaling 17.5mt for 1HFY25 (down 11% YoY). Weak volume growth was due to a heavy monsoon. NMDC has maintained its production target of 50mt for FY25 and expects volumes to ramp up significantly in 2HFY25. * NMDC took a cumulative price cut of INR1,000 per ton during Jun-Aug’24 for lumps/fines to INR5,350/INR4,6...
Buy NMDC Ltd For Target Rs. 290 By Motilal Oswal Financial Services Ltd
NMDC is currently trading at Rs. 215.35, down by 1.05 points or 0.49% from its previous closing of Rs. 216.40 on the BSE. The scrip opened at Rs. 214.90 and has touched a high and low of Rs. 217.40 and Rs. 214.75 respectively. So far 98168 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 286.35 on 21-May-2024 and a 52 week low of Rs. 133.05 on 04-Sep-2023. Last one week high and low of the scrip stood at Rs. 230....
NMDC declines on reporting 10% fall in iron ore production during August
Result Synopsis NMDC’s Q1FY25 earnings were above the consensus estimates owing to higher realizations and higher margins as compared to Q4FY24 due to normalized royalty rates. The EBITDA margins came in at 43.2% vs 32.4% in Q4FY24. The realization/t for the quarter came in at Rs 5,304/t, reporting a rise of 3.5% from Q4FY24, where the same was Rs 5,125/t. NMDC incurred about Rs 2,100 crores of capex during FY24 and is expected to undertake ~Rs 2,200 crores on an annual basis for FY2...
Add National Mineral Development Corporation Ltd For Target Rs. 239 By Yes Securities
Government-owned NMDC Steel Limited (NSL) announced on Wednesday that its state-of-the-art plant has successfully produced 1 million tonnes of Hot Rolled Coil, reaching this milestone four days ahead of the first anniversary of starting operations. NMDC Steel Ltd, an entity demerged and formed from state-owned mining firm NMDC, operates the ultra-modern 3 million tonnes per annum steel plant in Chhattisgarh's Nagarnar, set up with an investment of Rs 22,900 crore, it is referred ...
NMDC Steel clears major production milestone in 1st year of operations
Revenue in line; lower royalty expense leads to EBITDA beat Highlights of the 1QFY25 consolidated results: * Revenue was in line with our estimate at INR54b, flat YoY/down 17% QoQ. The QoQ decline was primarily due to weak volumes, partially offset by higher NSR. * Iron ore production stood at 9.19mt (-14% YoY/-31% QoQ), while sales stood at 10.1mt (-8% YoY/-20% QoQ). ASP improved to INR5,337/t (+9% YoY/+4% QoQ), in line with our estimate. * EBITDA came in at INR23b (+17% YoY/+11...
Buy NMDC Ltd For Target Rs.280 By Motilal Oswal Financial Services Ltd
NMDC is currently trading at Rs. 225.50, down by 4.10 points or 1.79% from its previous closing of Rs. 229.60 on the BSE. The scrip opened at Rs. 235.05 and has touched a high and low of Rs. 235.05 and Rs. 224.55 respectively. So far 431585 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 286.35 on 21-May-2024 and a 52 week low of Rs. 112.75 on 14-Aug-2023. Last one week high and low of the scrip stood at Rs. 235...
NMDC falls despite its consolidated net profit rises 18% in Q1FY25
Union Minister of Steel and Heavy Industries H.D. Kumaraswamy has called on National Mineral Development Corporation (NMDC) officials to commit to their goal of 100 million tonnes of iron ore production by 2030, as a tribute to the Honourable Prime Minister’s vision of ‘Viksit Bharat’. Kumaraswamy along with Union Minister of State (MoS) for Steel and Heavy Industries, Bhupathiraju Srinivasa Varma visited the NMDC head office in Hyderabad. The NMDC said on Friday that ...
Kumaraswamy asks NMDC to commit to production target of 100 million tonnes
Earnings below estimates; outlook remains bright Highlights of the 4QFY24 consolidated results: *NMDC’s revenue was in line with our est. at INR65b (YoY/QoQ: +11%/ +20%), led by better realizations during the quarter. Iron ore production came in at 13.3mt (YoY/QoQ: -6%/ +8%), while sales stood at 12.5mt (YoY/QoQ: +1%/ +10%). ASP for the quarter improved to INR5,174/t (YoY/QoQ: +10%/+9%) vs. our estimate of INR4,955/t. *EBITDA came in at INR21b (YoY/QoQ: -3%/+5%) and was below o...
Buy NMDC Ltd For Target Rs. 300 By Motilal Oswal Financial Services
Q4 margins impacted due to one-offs; Massive capex to fuel earnings growth ahead NMDC Ltd reported highest ever Iron ore production and sales number during FY24, in Q4FY24. Revenues grew 11% YoY to ?64bn in Q4FY24, was in-line with our estimates (QoQ up 20%) led by better realizations during the quarter. Blended ASP stood at ?5,191/t, up 10% YoY and ?442/t higher than our estimate of ?4,749/t. Iron ore production came in at 13.3mt down 6% YoY and up 8% QoQ, while sales stood at 12.5mt +1% ...
Buy NMDC Ltd. For Target Rs. 301 - LKP Securities
Bank of Baroda Ltd Buy Bank of Baroda Ltd @ 283-284 Target 287.20 Stop Loss 281.80 National Mineral Development Corporation Ltd Buy National Mineral Development Corporation Ltd @ 262.50-263.50 Target 266.50 Stop Loss 261.20 Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html SEBI Registration number INZ000183631
Stock Picks : Bank of Baroda Ltd And National Mineral Development Corporation Ltd By ICICI Direct
National Mineral Development Corporation Ltd * We are seeing decent traction in the PSU related stocks and NMDC is offering a fresh buying opportunity. * It has been in strong uptrend forming series of high highs and lows with gradual rise in volumes. * After retracement from the recent highs stock has formed a fresh buying pivot and reclaimed its short term moving average indicates momentum in place. * Traders can consider fresh longs in the mentioned range. ...
Stock of the day : National Mineral Development Corporation Ltd For Target Rs. 275- Religare Broking Ltd
NMDC is currently trading at Rs. 219.10, down by 48.65 points or 18.17% from its previous closing of Rs. 267.75 on the BSE. The scrip opened at Rs. 269.95 and has touched a high and low of Rs. 269.95 and Rs. 214.20 respectively. So far 968265 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 286.35 on 21-May-2024 and a 52 week low of Rs. 103.85 on 26-Jun-2023. Last one week high and low of the scrip stood at Rs. 2...
NMDC declines after reporting 37% fall in iron ore production during May
Volume growth drives performance; outlook robust NMDC on track to produce 50mt by FY25E * Revenue grew 45% YoY to INR54b in 3QFY24, above our estimate of INR48.5b. Blended ASP stood at INR4,748/t, up 22% YoY and INR503/t higher than our estimate of INR4,245/t. * EBITDA was up 76% YoY at INR20b, 36% above our estimate of INR14.7b. The beat was driven by higher volumes, higher realizations, lower freight cost, and other expenses, partially offset by higher royalty payment. * Blende...
Buy NMDC Ltd For Target Rs.280 - Motilal Oswal Financial Services
NMDC Limited (NMDC) is India’s largest producer of iron ore. Operating under the Ministry of Steel, NMDC is a ‘Navratna’ public sector enterprise and owns and operates highly mechanized iron ore mines in Chhattisgarh and Karnataka. NMDC is one of the low-cost producers of iron ore in the world. With iron-ore production of around 45.1 million tonnes (MT) in FY24, at an average of 64% Fe, NMDC sells one of the best grade Iron ore globally. We believe with the onset of key stru...
Buy NMDC Ltd.For Target Rs.297 - LKP Securities
Real estate stocks are the top sectoral gainers on Monday with the index up more than 3 per cent. The BSE Real Estate Index is up 3.86 per cent led by Prestige Estates which is up almost 7 per cent. DLF is up more than 5 per cent, Sobha is up more than 5 per cent, and Lodha is up more than 3 per cent. Prestige Estates was up almost 7 per cent after it announced a strategic deal with the Abu Dhabi Investment Authority (ADIA) and Kotak AIF. The Rs 2,001 crore ($240 million) deal is dedica...
Real estate, metal stocks lead sectoral gainers
Minerals and mining sector stocks shined on the BSE, as the Indian Bureau of Mines in its latest data has showed that the index of mineral production of the country's mining and quarrying sector rose by 5.9 per cent in January 2024 as compared to the level in January 2023. The cumulative growth for the period April-Jan 2023-24 over the corresponding period of the previous year works out to 8.3 per cent. MOIL is currently trading at Rs. 288.00, up by 16.50 points or 6.08% fr...
Minerals and mining sector stocks shine amid rise in January production data
Revenue and EBITDA beat estimates Volume momentum to continue; NMDC to produce 50mt by FY25E * Revenue grew 13% YoY to INR53.9b in 1QFY24, 12% above our estimate of INR48b. Blended ASP stood at INR4,915/t, down 20% YoY and INR558/t higher than our estimate of INR4,358/t. * EBITDA was up 5% YoY at INR20b, 22% above our estimate. The beat was driven by higher ASP and other operating expenses. Blended EBITDA/t stood at INR1,816, which was INR343/t higher than our estimate. * APAT was...
Buy National Mineral Development Corporation Ltd For Target Rs . 135 - Motilal Oswal
Sun Pharma Ltd Buy Sun Pharma Ltd @ 1528-1530; Target 1547.00; Stop Loss 1519.00 NMDC Ltd Buy NMDC Ltd @ 247.00-247.50; Target 250.50; Stop Loss 245.80 Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html SEBI Registration number INZ000183631
Stock Picks : Sun Pharma Ltd And NMDC Ltd By ICICI Direc
India has narrowed the gap with China in MSCI's Global Standard index, which tracks emerging market stocks for investors, after the latest revision. Index provider MSCI raised India's weightage in the index to an all-time high of 18.2% on Tuesday, which could lead to inflows of about $1.2 billion, analysts said. In comparison, China's weight in the index fell to 25.4% after the February revision, from 26.6% a year ago. The convergence of weights between Indian and Chinese...
India narrows gap with China in key MSCI index with weight hitting new high
NMDC is currently trading at Rs. 236.80, up by 11.45 points or 5.08% from its previous closing of Rs. 225.35 on the BSE. The scrip opened at Rs. 229.65 and has touched a high and low of Rs. 237.00 and Rs. 227.75 respectively. So far 1464998 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 237.35 on 02-Feb-2024 and a 52 week low of Rs. 103.75 on 19-May-2023. Last one week high and low of the scrip stood at Rs. 237...
NMDC zooms on the BSE
NMDC is currently trading at Rs. 209.80, up by 7.30 points or 3.60% from its previous closing of Rs. 202.50 on the BSE. The scrip opened at Rs. 203.30 and has touched a high and low of Rs. 211.45 and Rs. 203.30 respectively. So far 776598 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 227.35 on 05-Jan-2024 and a 52 week low of Rs. 103.75 on 19-May-2023. Last one week high and low of the scrip stood at Rs. 217.7...
NMDC trades higher on the BSE
NMDC is currently trading at Rs. 216.15, up by 4.60 points or 2.17% from its previous closing of Rs. 211.55 on the BSE. The scrip opened at Rs. 213.40 and has touched a high and low of Rs. 217.05 and Rs. 210.65 respectively. So far 913487 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 219.10 on 02-Jan-2024 and a 52 week low of Rs. 103.75 on 19-May-2023. Last one week high and low of the scrip stood at Rs. 219.1...
NMDC jumps on fixing prices of iron ore
Volume growth and capacity expansion to drive performance ? NMDC is on track to produce ~46mt of iron ore in FY24E (Apr-Nov production was up 17% YoY to 27.3mt). Over FY25, NMDC is likely to surpass a production of 50mt. The traction in production volumes would be driven by improved capacity and strong domestic demand. ? NMDC is undertaking multiple evacuation and capacity enhancement capex, which are likely to expand the production capacity to 67mt by FY26-27E from the current 51.8mt, ...
Buy NMDC Ltd For Target Rs. 210 - Motilal Oswal Financial Services Ltd
Result Synopsis NMDC’s Q2FY24 earnings were above the consensus estimates on the back of strong operational performance. NMDC reported its best ever Q2 and H1 performance in terms of production and sales. With iron ore prices witnessing a major drop over the last few months, the company was still able to sustain its realizations over the Rs 4,000/t mark. The realization/t came in at Rs 4,145/t, reporting a major drop from Q1FY24, where the same was Rs 4,851/t. The company’s EBITDA...
Add NMDC Ltd For Target Rs.186 By Yes Securities Ltd
India will struggle to raise even half the proceeds it had targeted from planned sales of state-run firms this year and will miss divestment targets for the fifth straight year, sources said, as elections shift government priorities. The government may fall short of its divestment goal by 300 billion rupees ($3.60 billion) in 2023/24, two government sources told Reuters. New Delhi had targeted 510 billion rupees from divestment proceeds for the current fiscal year that ends March, 2024. ...
India set to miss divestment targets by more than half this year
TCS Ltd Buy TCS Ltd @3520-3522; Target 3554.00; Stop Loss 3504.00 NMDC Ltd Buy NMDC Ltd @170.60-171.00; Target 173.00; Stop Loss 169.80 Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html SEBI Registration number INZ000183631
Stock Picks : TCS Ltd And NMDC Ltd By ICICI Direct
NMDC is currently trading at Rs. 170.80, up by 1.05 points or 0.62% from its previous closing of Rs. 169.75 on the BSE. The scrip opened at Rs. 171.95 and has touched a high and low of Rs. 171.95 and Rs. 169.80 respectively. So far 4662 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 177.75 on 13-Nov-2023 and a 52 week low of Rs. 103.75 on 19-May-2023. Last one week high and low of the scrip stood at Rs. 177.75 ...
NMDC rises on reporting 16% rise in Q2 consolidated net profit
Mining stocks soared on Thursday because of which the Nifty Metal index posted strong gains, said Vaibhav Vidwani, Research Analyst at Bonanza Portfolio.MOIL jumped 7.9 per cent, while NMDC and Gujarat Mineral Development Corporation (GMDC) rallied 5.79 per cent and 5.30 per cent, respectively, he said.The mining of vital and important minerals, including lithium, niobium, and several rare earth elements (REEs), has been permitted by the Cabinet's approval of royalty rates on Wednesday.The go...
Mining stocks soar in Thursday`s trade
NMDC Ltd?s operational performance: After having the best-ever Q1 performance in terms of production and sales during FY24, NMDC has set high targets when it comes to its mine expansion and operational output plans. ? The management is aiming to reach a goal of being an iron ore miner with a production capacity of ~100 mtpa by the year 2030, in-line with the National Steel Policy goals. ? During the first five months of the financial year (April-August), the company has produced a tota...
Buy NMDC Ltd For Target Rs. 141 - Yes Securities Ltd
NMDC is currently trading at Rs. 144.90, down by 3.30 points or 2.23% from its previous closing of Rs. 148.20 on the BSE.The scrip opened at Rs. 147.85 and has touched a high and low of Rs. 149.20 and Rs. 144.25 respectively. So far 713327 shares were traded on the counter.The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 154.15 on 15-Sep-2023 and a 52 week low of Rs. 93.60 on 27-Oct-2022.Last one week high and low of the scrip stood at Rs. 150.35 and Rs. 141.50 re...
NMDC falls even after logging over 9% rise in iron ore production during September
Volume-led upgrades likelyWe upgrade NMDC to BUY from ADD as: 1) Sales volume in FY24E may breach the 32-40mnte range; 2) long-term volume visibility is clearer as the roadmap for 100mtpa by FY30, though aspirational, is being worked on; 3) commercial mining in Odisha is progressively getting undermined, resulting in more opportunity; and 4) RoE may improve further from the current level of 22% as mining business takes the centre stage and steel plant is demerged. Taking cognisance of the...
Buy NMDC Ltd For Target Rs.180 - ICICI Securities
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