Stock Market

NMDC gains on revised ore prices, up for 4th day

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NEW DELHI: Share prices of NMDC gained 1 per cent on Tuesday after the company revised the prices of iron ore with effect from September 7. The stock rose 0.95 per cent to Rs 121.40.

With this, the scrip has risen 8 per cent in four trading sessions to Tuesday.

On the technical chart, the stock is trading higher than most short term moving averages, but is below its 200-day moving average. The prices of lump ore have been fixed at Rs 3,550 per tonne while those of fines are set at Rs 3,110.

The prices are excluding any royalty, DMF, NMET, cess, forest permit fee and other taxes, the company said in a filing to the BSE. NMDC is a state-owned mineral producer promoted by the central government.

It comes under administrative control of the Ministry of Steel.




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Category: Stock Market


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