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NMDC hikes iron ore prices
(15:08, 30 Nov 2022)
The prices of lump ore (65.5%, 6-40mm) have been increased by Rs 300 or 7.89%, to Rs 4,100 per ton compared with Rs 3,800 per ton fixed on 17 November 2022.

The prices of iron ore fines (64%, -10 mm) have been raised by Rs 300 or 11.49%, to Rs 2,910 per ton from Rs 2,610 per ton set on 17 November 2022.

NMDC is India's single largest iron ore producer, presently producing about 35 million tonnes of iron ore from 3 fully mechanized mines, two located in Chhattisgarh and one in Karnataka. As of 30 September 2022, the Government of India held 60.79% stake in the firm.

On consolidated basis, NMDC's net profit tumbled 58.2% to Rs 972.22 crore on 51% drop in net sales to Rs 3,328.45 crore in Q2 FY23 over Q2 FY22.

The scrip was advanced 0.56% at Rs 117.70 on the BSE.

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