Introduction
Investors in NMDC Limited have witnessed tremendous returns on their shares in the past month. The company’s stock has seen a 25.44 percent increase, reaching a trading price of Rs 142.25. Domestic brokerage firm ICICI Securities has given a ‘Buy’ rating on NMDC shares, with a price target of Rs 180 lakh. Today, shares of NMDC Limited are trading at Rs 148.90, reflecting a 4.71 percent increase.
Financial performance of the company
NMDC Company has shown significant improvement in its operating performance. The annual production has increased by 23.1 percent, while sales have witnessed a 29.7 percent growth on an annual basis. Experts predict a bullish trend for NMDC shares due to its strong operating performance.
Briefly about the company
NMDC Limited, a state-owned company, is the largest domestic iron and mining company in India. Established in 1958 by the Government of India, NMDC has been accorded Navratna status. The 52-week high and low prices for NMDC shares were Rs. 146.75 and Rs. 93.60 respectively. The total market capitalization of NMDC Limited is Rs. 41,687.87.
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