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NMDC hits 52-week low on weak earnings concerns; declines 7% in three days

EBITDA margin for Q1FY23E is likely to come in at 33.3 per cent as against 40 per cent in Q4FY22, said ICICI Securities

Govt to sell up to 7.5% in NMDC via OFS on Tuesday, may get Rs 3,621 cr
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SI Reporter Mumbai
Shares of NMDC hit a 52-week low of Rs 101.50, slipping 4 per cent on the BSE in Thursday’s intra-day trade. The stock has fallen 7 per cent in the past three trading days on concerns of weak earnings due to a decline in iron-ore prices.

In the past three months, the stock of India’s largest iron-ore miner has tanked 40 per cent as compared to a 8.8 per cent decline in the S&P BSE Sensex. It has corrected 46 per cent from its 52-week high level of Rs 186 touched on July 30, 2021.

On Tuesday, NMDC