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NMDC in jubilant mood on plan to acquire mineral assets overseas

06 Feb 2012 Evaluate

NMDC is currently trading at Rs. 194.60, up by 11.75 points or 6.43% from its previous closing of Rs. 182.85 on the BSE.

The scrip opened at Rs. 188.00 and has touched a high and low of Rs. 195.80 and Rs. 186.00 respectively. So far 158604 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 304.90 on 07-Apr-2011 and a 52 week low of Rs. 136.15 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 195.80 and Rs. 172.25 respectively. The current market cap of the company is Rs. 77074.08 crore.

The promoters holding in the company stood at 90.00% while Institutions and Non-Institutions held 9.11% and 0.88% respectively. 

NMDC, India's biggest iron ore miner is looking for mineral assets in Brazil, Mozambique, Russia, the United States and South Africa. Through these acquisitions, the company is aiming to meet its own requirements and ensure raw material security for the country's steel and fertilizer industries.

The company had identified an iron ore asset in Brazil, with reserves of more than 1 billion tonnes. It is also planning to acquire coking coal assets in Russia and Mozambique with more than 50 million tonnes and 150 million tonnes of reserves respectively. It is also under due diligence to acquire a rock phosphate asset in the country.

The company has posted a rise of 22.45% in its net profit of Rs 1858.81 crore for the quarter ended December 31, 2011 as compared to Rs 1518.03 crore for the same quarter in the previous year. Total income has increased by 14.79% from Rs 2915.94 crore for Q3FY11 to Rs 3347.34 crore in the quarter under review.

NMDC Share Price

89.78 2.60 (2.98%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Coal India 438.70
NMDC 89.78
GMDC 733.40
Sandur Manganese 218.35
MOIL 327.60
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