NMDC rises on price hikes

NMDC, on Saturday, hiked prices of iron ore once again.

This time, for its September supplies, prices were hiked by Rs.300/tonne. After the price hike, iron ore lumps will be sold at Rs.3,250/tonne and fines at Rs.2,960/tonne.

The company had hiked prices first on 31st July by Rs.200/tonne and then once again on 12th August by another Rs.300/tonne.

Since July, the company has taken a total price hike of Rs.800/tonne on its iron ore lumps and fines.

The stock has gained today after two days of consecutive fall. The stock hit an intraday high at Rs.96.60, rising over 3%. Its 10% UC of the day is at Rs.103.10.