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NMDC rises on plans to open new iron mines in Chhattisgarh, Karnataka next year

02 Dec 2014 Evaluate

NMDC is currently trading at Rs. 136.20, up by 1.80 points or 1.34 % from its previous closing of Rs. 134.40 on the BSE.

The scrip opened at Rs. 135.50 and has touched a high and low of Rs. 136.45 and Rs. 134.65 respectively. So far 98854 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 196.15 on 06-Jun-2014 and a 52 week low of Rs. 123.10 on 12-Mar-2014.

Last one week high and low of the scrip stood at Rs. 145.75 and Rs. 133.30 respectively. The current market cap of the company is Rs. 53920.14 crore.

The promoters holding in the company stood at 80.00 % while Institutions and Non-Institutions held 17.38 % and 2.61 % respectively.

National Mineral Development Corporation (NMDC), India’s top iron ore miner, is all set to open and develop new iron ore mines in Chhattisgarh and Karnataka next year, a move expected to boost steel production.

The mine to be opened in the Bailadila sector in Chhattisgarh is in the Deposit-11 B Iron Ore Project while the one in Karnataka is part of the Kumaraswami Iron Ore Mines.

NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.

 

Peers
Company Name CMP
Coal India 419.00
NMDC 80.69
Ashapura Minechem 518.35
Sandur Manganese 182.00
GMDC 553.15
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