NMDC stock price today: NMDC shares fell as much as 2.6% to an intra-day low of Rs 238.13 after the company raised iron ore prices. NMDC hiked the iron ore prices by Rs 400 a tonne, which came into effect on October 01. The revision in iron ore prices came after two consecutive reductions in the prices.
Now, the lump ore costs Rs 5,750 per tonne and fines Rs 5,010. Lump ore is one of the main ferrous feeds used in the blast furnace ironmaking process, it typically makes up 10% to 20% of the blast furnace burden. Iron ore fines are iron ore particles that are between a size of 0.15 mm to 6 mm, these are less desirable than lumps because they need to be sintered before they can be used in blast furnaces.
Previously, on August 07, NMDC slashed lumps and fines prices by Rs 600 per tonne and Rs 500 per tonne, respectively. The prices of lumps were cut to Rs 5,350 per tonne and that of fines to Rs 4,610 per tonne.
That apart, NMDC’s iron ore production rose to 3.04 million tonnes (MT), up 1.33% on year in September 2024 compared to 3 MT produced a year ago in the same month. Sequentially, the company’s iron ore production declined by 0.98% and iron ore sales fell by 12.74% in September 2024.
NMDC Vs Nifty
Shares of NMDC have risen 9% in the past five trading sessions and given a return of almost 13% in the last one month. The stock has raised the investors’ wealth by a bit over 11% in the last six months. The stock has risen 64% in the past one year.
To compare, the benchmark index Nifty 50 has fallen over 2% in the last five days. However, it gave a return of 0.86% in the past one month. The index has risen 14% in the last six months and 31% in the past year.