NMDC fell 0.84% to Rs 118.45 at 11:02 IST on BSE after the company reduced prices of iron ore in October 2017.
The announcement was made after market hours yesterday, 4 October 2017.Meanwhile, the S&P BSE Sensex was down 16.88 points, or 0.05% to 31,654.83.
On the BSE, 65,000 shares were traded in the counter so far, compared with average daily volumes of 3.05 lakh shares in the past one quarter. The stock had hit a high of Rs 119.20 and a low of Rs 117.75 so far during the day. The stock hit a 52-week high of Rs 152.50 on 2 March 2017. The stock hit a 52-week low of Rs 102.80 on 27 June 2017.
The stock had underperformed the market over the past one month till 4 October 2017, falling 11.42% compared with 0.43% decline in the Sensex. The scrip had outperformed the market in past one quarter, rising 5.71% as against Sensex's 0.96% rise. The scrip had underperformed the market in past one year, rising 7.18% as against Sensex's 12.23% rise.
The large-cap company has equity capital of Rs 316.39 crore. Face value per share is Re 1.
NMDC said it reduced prices of lump ore by 4.17%, or Rs 100 per tonne to Rs 2,300 per tonne in October 2017.
It has also cut the prices of iron ore fines by 4.63%, or Rs 100 per tonne to Rs 2,060 per tonne in October 2017.
NMDC's net profit rose 36.2% to Rs 969.20 crore on 65.1% growth in net sales to Rs 2841.53 crore in Q1 June 2017 over Q1 June 2016.
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 30 June 2017.
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