NMDC rose 3.53% to Rs 134.85 at 12:41 IST on BSE, with the stock extending Tuesday's gains triggered by the company increasing prices of lump ore and fines.
Meanwhile, the S&P BSE Sensex was down 13.56 points or 0.05% at 26,656.80.
On the BSE, 6.45 lakh shares were traded on the counter so far as against the average daily volumes of 5.50 lakh shares in the past one quarter. The stock had hit a high of Rs 137.45 and a low of Rs 131.25 so far during the day.
The stock had hit a 52-week high of Rs 142.65 on 2 November 2016 and a 52-week low of Rs 75.20 on 12 February 2016. It had outperformed the market over the past one month till 3 January 2017, surging 11.8% compared with the Sensex's 1.57% rise. The scrip had also outperformed the market over the past one quarter advancing 20.1% as against the Sensex's 5.67% fall.
The large-cap company has equity capital of Rs 316.39 crore. Face value per share is Rs 1.
Shares of NMDC have risen 5.18% in two trading sessions from its close of Rs 128.20 on 2 January 2017 after the company at the fag end of market hours yesterday, 3 January 2017, announced increase in iron ore prices with effect from 3 January 2017. In response to this announcement, the stock had risen 1.6% to settle at Rs 130.25 yesterday, 3 January 2017.
The company has fixed the price of lump ore at Rs 2,225 wet metric tonne (WMT) as against earlier price of Rs 2,100 WMT announced on 29 November 2016. The price of fines was fixed at Rs 1,985 WMT as against earlier price of Rs 1,860 WMT. The prices are excluding royalty, District Mineral Foundation (DMF), National Mineral Exploration Trust (NMET), cess, forest permit fee etc.
Shares of NMDC have been on a rising trend recently. The stock has risen 11.35% in five straight trading sessions from its close of Rs 121.10 on 28 December 2016 to its current ruling market price.
NMDC's net profit fell 5.6% to Rs 770.76 crore on 8.5% growth in net sales to Rs 1739.15 crore in Q2 September 2016 over Q2 September 2015.
NMDC is India's largest public sector iron ore producer. As per the shareholding pattern, Government of India (GoI) holds 74.94% stake in NMDC as on 14 October 2016.
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