Page 10 - Nmdc

NMDC increases iron ore prices by Rs 300 per tonne on surge in demand

According to sources, the price increase was due to an increase in international and domestic demand combined with strong steel and pellet prices

NMDC eyes 67 MTPA iron ore output by 2021-22, HR coil rollout by FY19 end

Company's Australian arm applies for allocation of tenements for tungsten in Western Australia

NMDC increases price of lump ore, iron ore fines by Rs 150 a tonne

NMDC Limited, a state-controlled mineral producer, has increased the price by Rs 150 a tonne for lump ore and iron ore fines with effect from August 22. The company informed exchange that the price increased to Rs 3,350 from Rs 3,200 a tonne for lump ore and Rs 2,960 per tonne for iron ore fines from Rs 2,810 a tonne.Unlike in the past this price hike will also include Karnataka, said company officials adding that the price was to reduce the gap between iron ore sold from the NDMC mines at Chattisgarh and Karnatka as compared to the prices at Odhisa.Seshagiri Rao, JMD and group CFO, JSW Steel said that the price could be because of the Rupee depreciation. He added considering the quality of the iron ores in Karnataka, the prices should be competitive.Basant Poddar, former Chairman and member of Federation of Indian Mineral Industries (FIMI)- South said that the price revision is a welcome move to spur local consumption and revenue to the state of Karnataka.Beginning of this year, in ..

SAIL closing in on NMDC's iron ore capacity

NMDC, which is also expanding it's capacity, had an iron ore mining capacity of 43 million tonnes in 2017-18

NMDC stock: Growing steel production supporting iron ore demand

The 62% Fe ore prices ex-China had corrected from more than $75 a tonne to sub $65 levels during the February-May period

NMDC to increase mining capacity to 50 million tonnes by 2019-20

In the last financial year, NMDC registered best ever production in the last 60 years since the inception of the company by producing 35.5 mt iron ore

Value addition will bring more relevance to NMDC: Chairman Baijendra Kumar

Instead of going for divestment at a later stage, as tried in the case of Nagarnar plant, the company wants to go with a private partner for such projects in the initial stage itself

NMDC declares interim dividend of 430%; shareholders pocket Rs 13.60 bn

During the last five years, NMDC has paid about Rs 155.25 billion as dividend to its shareholders

NMDC: Strong rebound seen in profitability in March quarter and FY19

NMDC's decision to cut iron ore prices by 3-4 per cent or Rs 100 a tonne from March 1 may have weighed on street sentiment, but analysts say the company's prospects remain healthy. They say, some price cuts were expected given that NMDC had consistently raised prices of iron ore lumps and fines, taking the total increase to 34 per cent and 38 per cent, respectively since November 2017. The move has also surprised some on the street given that iron ore prices ex-china had touched 10 month highs of $79.95 a tonne at the end of February. NMDC's price hikes during November-February had been supported by rising international iron ore prices from sub-$60 a tonne, as well as mining disruptions in Odisha. With the restart of some mines in Odisha after mid-February, some price adjustment was anticipated.The bigger gain, as the street sees it as, will come in the form of higher volumes. NMDC's production at 24.3 million tonne (MT) during first nine months of FY18 was up marginal by three per ...

NMDC stake sale via OFS route begins; stock falls 4%

The stock hit a 52-week high of Rs 163 on BSE on Monday, January 8, 2018 in intra-day trade had outperformed the market by gaining 23% in past one month

Govt to divest 1.5% in NMDC on Tuesday at Rs 153.5 per share

The government has already raised over Rs 525 billion in current fiscal through stake sale in PSUs, including listing of insurance PSUs and exchange traded fund

NMDC: Pricing outlook signals more gains

Rising volumes, realisations can lead to strong stock returns

Steel firms to raise prices after NMDC hikes ore prices

The price of lumps has risen up by 7.2% this financial year and that of fines by 3.4%

Higher volumes to cushion NMDC, risks to pricing remain

Good volume growth and attractive valuations are keeping analysts positive on the stock

NMDC pauses on price cuts

In the current financial year so far, it has cut by 5.15%

Favourable winds for NMDC stock

After seeing a steep correction between February and June, the NMDC stock has rebounded 15 per cent to ~121 levels. More gains are likely.While the stock's correction was due to declining iron ore prices, recovery in prices and strong June quarter performance lifted sentiment. From highs of $90 a tonne in February, iron ore prices had fallen to $50 levels by June-end. The price is now close to $75 a tonne. Despite a correction in iron ore prices during the June quarter, profitability of NMDC improved. Earnings before interest, tax, depreciation and amortisation (Ebitda) per tonne, at ~1,628, surged 55 per cent year-on-year and 71 per cent sequentially. NMDC being able to hold on to the price hikes taken in the March quarter, despite declining iron ore prices, was one of the reasons for better profitability. The support came from strong demand as Karnataka auction prices increased 4-9 per cent, say analysts at Kotak Institutional Equities.The company also surprised with ...

Complete 3-mt NMDC steel plant by December: Parl panel to steel ministry

NMDC's Chhattisgarh plant was originally set to be completed by May 2015

Falling iron prices play spoilsport for NMDC

As revenues and profitability remain robust, lower international iron ore prices is an overhang

Lower iron prices a double whammy for NMDC

Declining international rates of iron ore pose risk to company's domestic sales as well as exports

NMDC iron ore production up 20% at 34 million tonnes

BS ReporterHyderabad, 3 April: Sale and production of iron ore by NMDC Limited has gone up by 23 percent and 20 percent respectively in the year ending March 31, 2017. However a similar growth in profitability is unlikely as the iron ore prices started firming only towards the second half of the financial year, according to the company sources.The company has achieved a total production of 34.07 million tonnes of iron ore in 2016-17 as compared to 28.57 million tonnes in the previous year while the sales volumes stood at 35.62 million tonnes as compared to 28.83 million tonnes in 2015-16, according to the company data."Though sales have increased by close to 7 million tonnes over the previous year, we expect a marginal improvement in profits because the company was able to raise the prices from October, 2016 on wards while in the previous months we were reducing the prices in line with global trends as well as the domestic demand," a company official told Business Standard. Taking ...