Company's stock price rises after its net profit rises by 40.7%.
Recommendation: Buy; Target Price: Rs 482
Recommendation: Add; Target Price: Rs 165
While FY23 was impacted by export duty, NMDC management expects to clock 46-50mt sales in FY24. This will be led by approval for 3mt expansion at Kumaraswamy mine, better operational efficiencies, normal monsoon and healthy rake availability.
The facility will do research & development in cement and concrete.
Recommendation: Buy; Target Price: Rs 450
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