ICICI Direct has given Buy recommendation for NMDC recommended buy rating on the stock with a target price of Rs 175 in its research repo with a target price of Rs. 175 in its research report issued on Nov 12, 2021

ICICI Direct’s research report on NMDC

Incorporated in 1958, NMDC is India’s largest merchant iron ore miner. • During FY21, NMDC’s iron ore 75production volume was at ~34 MT while sales volume for FY21 was at ~33 MT • NMDC is one of the lowest cost iron ore producers in the world.


We value NMDC at Rs 175, based on SoTP valuation.

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