ICICI Direct has given Buy recommendation for NMDC with a target price of Rs. 190 in its research report issued on Feb 11, 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 production volume was at ~34 million tonne (MT) while sales volume for FY21 was at ~33 MT NMDC is one of the lowest cost iron ore producers in the world

Outlook

We maintain our BUY rating on the stock We value NMDC at Rs 190, based on SoTP valuation

More Info on NMDC

At 13:10 hrs NMDC was quoting at Rs 146.60, down Rs 6.50, or 4.25 percent.

It has touched an intraday high of Rs 153.35 and an intraday low of Rs 144.05.

It was trading with volumes of 783,276 shares, compared to its thirty day average of 617,082 shares, an increase of 26.93 percent.

In the previous trading session, the share closed down 3.16 percent or Rs 5.00 at Rs 153.10.

The share touched its 52-week high Rs 213.15 and 52-week low Rs 111.00 on 12 May, 2021 and 15 February, 2021, respectively.

Currently, it is trading 31.22 percent below its 52-week high and 32.07 percent above its 52-week low.

Market capitalisation stands at Rs 42,962.68 crore.

 

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