NMDC fell 3.13% to Rs 94.30 at 15:11 IST on BSE after the company announced reduction in iron ore prices with effect from today, 4 May 2016.
The announcement was made during market hours today, 4 May 2016.Meanwhile, the BSE Sensex was down 101.47 points, or 0.4%, to 25,128.23
On BSE, so far 2.26 lakh shares were traded in the counter, compared with an average volume of 4.43 lakh shares in the past one quarter. The stock hit a high of Rs 98.50 and a low of Rs 94.10 so far during the day. The stock hit a 52-week high of Rs 136.55 on 6 May 2015. The stock hit a 52-week low of Rs 75.20 on 12 February 2016. The stock had underperformed the market over the past one month till 3 May 2016, falling 0.56% compared with the Sensex's 0.16% fall. The scrip, however, outperformed the market in past one quarter, gaining 25.05% as against Sensex's 4.15% gains.
The large-cap state-run iron ore miner has an equity capital of Rs 396.47 crore. Face value per share is Re 1.
NMDC has reduced the lump ore price by 4.76% to Rs 2,000 per tonne. The state-run firm also reduced prices for iron ore fines by 10.75% to Rs 1,660 per tonne.
NMDC's net profit fell 58.9% to Rs 655.04 crore on 48.5% decline in net sales to Rs 1517.04 crore in Q3 December 2015 over Q3 December 2014.
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The Government of India (GoI) holds 80% stake in NMDC (as per the shareholding pattern as on 31 March 2016). NMDC is India's single largest iron ore producer, presently producing about 30 million tonnes of iron ore from 3 fully mechanized mines.
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