NMDC: Strong rebound seen in profitability in March quarter and FY19

NMDC also announced the commissioning of its 220KV main power receiving substation on March 1, which is part of its plan to integrate forward into steel making

NMDC's decision to cut iron ore prices by 3-4 per cent or Rs 100 a tonne from March 1 may have weighed on street sentiment, but analysts say the company's prospects remain healthy. They say, some price cuts were expected given that NMDC had consistently raised prices of iron ore lumps and fines, taking the total increase to 34 per cent and 38 per cent, respectively since November 2017.

The move has also surprised some on the street given that iron ore prices ex-china had touched 10 month highs of $79.95 a tonne at the end of February. NMDC's price hikes