iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

NMDC intends to shift its investment focus to customized goods

21 Nov 2023 , 01:50 PM

According to chairman and managing director (additional charge) Amitava Mukherjee, National Mineral Development Corporation Ltd. (NMDC), the biggest producer of iron ore in India, adapts its products and services to suit the needs of various client classes.

McKinsey & Company and Deloitte have been hired by the Navratna PSU to conduct a five-six year market and customer requirements analysis and develop a marketing policy over the coming months. ‘We have engaged consultants and in about three to six months’ time we will have a clarity on what sort of investments we need to make to have customised products for different classes of customers rather than have a vanilla product for all of them,’ Mukherjee told analysts in a post-earning.

The 65-year-old business has been exploring a variety of minerals, including copper, rock phosphate, limestone, magnesite, diamond, tungsten, and beach sands. It is administratively overseen by the Ministry of Steel. Among its clients are Nippon Steel, Arcelor Mittal, Jindal Steel, and JSW Steel.

According to Mukherjee, the policy will be ready by the end of the current fiscal year, and the business anticipates a spike in realisations after the customized items are sold. It would take NMDC an additional two years to increase iron ore production above 52 million tonnes.

Due to strong demand, the state-owned mining conglomerate posted a 15.7% rise in consolidated net profit in the second quarter.

When asked about NMDC Steel Ltd.’s (NSL) divestiture status, Mukherjee responded that while the company had received several proposals, further progress could not be achieved because of the Chhattisgarh elections.

In order to sell a 50.79% ownership in NMDC Steel with a transfer of management control, the federal government issued an expression of interest (EOI) request last year.

For feedback and suggestions, write to us at editorial@iifl.com

NMDC Limited

Related Tags

  • Customized goods
  • investment
  • NMDC
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.