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NMDC rises on plans to spend Rs 3,513 crore on Chhattisgarh steel plant

NMDC Ltd. | Mining & Minerals | Metals & Mining | BSE: 526371 | NSE: NMDC

19 Mar 2012 Evaluate

NMDC is currently trading at Rs. 160.70, up by 2.70 points or 1.71% from its previous closing of Rs. 158.00 on the BSE.

The scrip opened at Rs. 159.55 and has touched a high and low of Rs. 162.50 and Rs. 155.30 respectively. So far 56,000 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. 197.00 and Rs. 155.30 respectively. The current market cap of the company is Rs. 63,712.00 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 planning to invest Rs 3,513 crore on its upcoming 3 million tonne per annum capacity steel plant at Nagarnar in Chhattisgarh. The company will be funding entire investment for the project from its internal resources.

The company has set aside a capital expenditure target of Rs 4,655 crore in the next fiscal and over 75% of the amount (Rs 3,513 crore) will be spend on the Chhattisgarh plant, which would mark NMDC's entry into steel manufacturing.

Work on the plant is on full flow and it is expected to commission on time (in 2014) as most of the packages, out of seven, have been awarded.

Initially, the plant will produce HR-coils (hot rolled coils) and the company is planning to create a separate marketing division for selling the steel products. Gradually, it will also move towards production of cold rolled and other steel products. The plant will get iron ore from company's existing mines at nearby Bailadila, while the coking coal is planned to be imported.

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
View more..

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NMDC rises on plans to spend Rs 3,513 crore on Chhattisgarh steel plant

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