NMDC loses its mettle

about 11 days ago
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NMDC Ltd is currently trading at Rs101.95, down 3.36% vis-à-vis its previous closing of Rs105.50 on the BSE. The scrip opened at Rs105 and has touched a high and low of Rs106 and Rs101.70 respectively.

The stock is down after it reported a YoY fall in production for November. It’s total production was at 2.94 million tonnes (MT) v/s 3.29 MT (YoY).

The only redeeming fact – there was a 3.4% rise in cumulative iron ore sales at 19.99 MT between April-Nov’19.

The company stated that major sales came from its Chhattisgarh mines, which showed a rise of almost 8% (YoY) while that from Karnataka was lower by 7.5%.

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