NMDC hikes iron ore prices

31 Jan 2022 , 01:14 PM

NMDC fixed prices for lump iron ore (65.5%, 6-40mm) at Rs 5200 per ton and iron fines (64% – 10mm) at Rs 4,260 per ton with effect from 31 January 2022.

NMDC, a Navratna Public Sector Enterprise under the Ministry of Steel, Government of India is the single largest producer of iron ore in India. It owns and operates iron ore mines in Chhattisgarh and Karnataka and has its registered office at Hyderabad, Telangana. It also operates a diamond mine in India at Panna, Madhya Pradesh.

On a consolidated basis, the net profit of NMDC surged 202.7% to Rs 2,338.63 crore on 204.7% increase in net sales to Rs 6,793.51 crore in Q2 FY22 over Q2 FY21. The companys board will consider Q3 results on 10 February 2022.

The Government of India holds 60.79% stake in the company.

Shares of NMDC rose 0.98% to Rs 139.60 on the BSE.

Powered by Capital Market – Live News