NMDC Ltd News

NMDC hikes iron ore lump rate by Rs 100/tonne; fines Rs 200 per tonne

State-owned NMDC on Tuesday said it has hiked price of iron ore lumps by Rs 100 to Rs 4,500 per tonne with immediate effect. The country's largest iron ore miner has also increased rate of iron ore fines by Rs 200 to Rs 4,110/tonne, NMDC said in a regulatory filing. The prices are effective from Tuesday and exclude royalty, district mineral fund (DMF), National Mineral Exploration Trust (DMET), cess, forest permit fee and other taxes, the company said. Lump ore or high-grade iron ore contains 65.53 per cent Fe (iron), while fines are inferior grade ore with 64 per cent and less Fe content. In the last price revision announced on February 2, NMDC fixed the rate of the lump at Rs 4,400 per tonne and that of fines at Rs 3,910 a tonne with immediate effect. Iron ore is one of the key raw materials used in manufacturing of steel, and any movement in its prices has a direct impact on rates of steel, an alloy widely used in segments such as construction, infrastructure, automobile and .

Uncertainty prevails over NMDC's Nagarnar steel bidding in Chhattisgarh

The Centre, on December 1, 2022, invited preliminary bids for disinvestment of the plant and offered to sell a 50.79 per cent stake in the company

NMDC: A long-term play on steel cycle; may see decline in FY23 revenues

NMDC's formal demerger of the steel plant may be followed by an initial public offering, or the government could look for a stake sale

Stocks to Watch: PB Fintech, NMDC, Axis Bank, Yes Bank, ONGC, Auto, Airline

Stocks to Watch Today: SoftBank Group is likley to sell a 5 per cent stake in PB Fintech via block deal at a base price of Rs 440 per share on Friday.

Govt to sell 50.79% in NMDC's steel plant at Nagarnar, invites bids

The last date for submitting queries by interested bidders is December 29, 2022, and that for submission of bids is January 27, 2023 as per the expression of interest (EoI)

Roll-back of export duty on steel has no near-term earnings upside: Experts

Analysts perceive the roll-back of export duties on steel as a valuation re-rating event, rather than an earnings upgrade trigger

Steel stocks firm after export duty removal: GPIL, SAIL climb up to 19%

According to analysts at ICICI Securities, the removal of export duty augurs well for domestic steel players over a longer term horizon

Worst may be over for NMDC stock: Cash flows likely to improve, say experts

Margins may have bottomed out, say analysts

NMDC in talks to invest in lithium exploration companies in Australia

Investment would be voa NMDC's Perth-based arm, Legacy Iron Ore, which is already prospecting for iron ore, gold and base metals there

NMDC trades ex-date for demerger; stock surges 14% on heavy volumes

NMDC shareholders will be eligible to get one share of NMDC Steel for every equity share held.