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

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