72.2300 1.37 (1.93%)
NSE May 29, 2025 15:21 PM
Volume: 16.3M
 

72.23
1.93%
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.
Number of FII/FPI investors decreased from 667 to 651 in Mar 2025 qtr
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