NMDC Ltd.

NSE: NMDC | BSE: 526371 | ISIN: INE584A01023 | Industry: Coal & Mining
| Mid-range Performer
67.9000 -0.39 (-0.57%)
NSE Jul 09, 2025 15:31 PM
Volume: 17.2M
 

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NMDC Ltd.
13 Sep 2023
67.90
-0.57%
ICICI Securities Limited
We upgrade NMDC to BUY from ADD as: 1) Sales volume in FY24E may breach the 32 40mnte range; 2) long-term volume visibility is clearer as the roadmap for 100mtpa by FY30, though aspirational, is being worked on; 3) commercial mining in Odisha is progressively getting undermined, resulting in more opportunity; and 4) RoE may improve further from the current level of 22% as mining business takes the centre stage and steel plant is demerged.
NMDC Ltd. is trading above its 100 day SMA of 67.6
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