Nmdc

Karnataka's iron ore duty plans weigh on NMDC; share price plunges 7%

The decline in NMDC share followed reports suggesting that the Karnataka government is considering an increase in the duty on iron ore

Nifty Metal slips 3% intraday; SAIL, NMDC down over 4%, Tata Steel over 2%

Shares of Hindalco, Jindal Steel and Power, Vedanta, Welspun Corp, National Aluminium Company (Nalco), Hindustan Zinc, APL Apollo Tubes declined over 1 per cent

NMDC Limited institutes trained over 3,000 youth in Chhattisgarh

The country's largest iron ore producer has helped more than 2,100 students secure jobs

Volume growth for NMDC to remain robust in H2 with environmental clearances

Steady increase in domestic demand, a strong balance sheet and moderate valuations are all positives

NMDC Steel Q2 results: Loss widens to Rs 595 cr, income at Rs 1,535.46 cr

NMDC Steel on Tuesday said its loss had widened to Rs 595.37 crore in September quarter, on account of a surge in expenses. It had posted a loss of Rs 131.10 crore in the year-ago period, the company said in an exchange filing. The company's total income increased to Rs 1,535.46 crore from Rs 290.27 crore a year earlier. However, NMDC Steel's expenses rose to Rs 2,364.39 crore in the second quarter of the ongoing fiscal year from Rs 464.93 crore a year ago. NMDC Steel Ltd, an entity demerged and formed from mining firm NMDC, owns and operates the 3 million-tonne Nagar Steel Plant at Nagarnar in Chhattisgarh. Nagarnar plant is referred to as India's youngest steel unit set up with an investment of about Rs 23,000 crore. NMDC Steel started commercial operations at the unit from August 31, 2023.

NMDC Q2 results: Net profit grows 17% to Rs 1,196 cr, total income up 22%

State-owned miner NMDC on Monday reported a 16.66 per cent rise in consolidated net profit to Rs 1,195.63 crore for the September 2024 quarter, helped by higher income. It had posted Rs 1,024.86 crore profit in the July-September period of 2023-24, the company said in an exchange filing. The company's total income surged 22 per cent to Rs 5,279.68 crore from Rs 4,335.02 crore in the year-ago quarter. The board has also approved the issuance of bonus shares in the ratio of 2:1. It further approved an increase in authorised share capital from Rs 400 crore to Rs 1,000 crore. NMDC, under the Ministry of Steel, is India's largest iron ore mining entity catering to around 20 per cent of the country's demand for the key steel-making raw material.

NMDC Group achieves net profit of AED 2.2 bn in first 9 months of 2024

The strong performance for the nine-month period ending September 30 2024 was underpinned by a healthy project pipeline

NMDC-KIOCL merger on cards, awaits clearances from ministries, regulators

NMDC continues to meet the country's iron ore demands, achieving a turnover of Rs 21,294 crore in financial year 2023-24

JSW Steel, ACC, NMDC among 31 bidders in 10th commercial coal mine auction

JSW Steel, JSW Energy, ACC Ltd, NMDC Ltd, NTPC Mining Ltd and Jindal Steel and Power Ltd (JSPL) are among the 31 companies which have submitted bids for the tenth round of commercial coal mine auction. "A total of 31 companies have submitted their bids in the auction process," the coal ministry said in a statement. More than 10 new companies have participated for the first time under commercial coal mine auction. A total of 67 coal blocks were put up for sale in June under the tenth round of commercial mines auction. The government has received 44 bids for the 67 coal mines, the statement said. "The bids will be evaluated by a multi-disciplinary technical evaluation committee and technically qualified bidders will be shortlisted for participation in the electronic auction, to be conducted on MSTC portal," it added.

Metal index corrects for 4th day in a row; NMDC, Tata Steel slips up to 8%

The Nifty Metal index, the top loser among sectoral indices, was down 2 per cent, as compared to the 0.35 per cent rise in the Nifty 50, at 9:53 AM.

NMDC's best results as iron ore output up 10% in FY24; sales rise 16%: CMD

NMDC posted "best-ever yearly performance" in FY24 with iron ore production rising 10 per cent to cross 45 million tonnes and sales going up 16 per cent to touch 44.48 million tonnes mark, the company's CMD Amitava Mukherjee said on Tuesday. The nation has witnessed strong growth of 7 per cent year-on-year in iron ore output, with production increasing from 257 million tonnes in FY23 to an impressive 275 million tonnes in FY24, the CMD said while addressing NMDC's 66th Annual General Meeting (AGM). "I am delighted to share that NMDC has played a significant role in this achievement, securing a commendable 16 per cent market share. FY24, NMDC registered its best ever yearly physical performance as it produced 45.02 million tonnes and sold 44.48 million tonnes of iron ore," he said. The company recorded a 10 per cent growth in production and 16 per cent growth in sales compared to FY23 volumes, Mukherjee said. The performance translated into a strong financial performance earning a .

NMDC looking to explore mining opportunities for critical minerals abroad

The country's largest iron ore miner NMDC on Thursday said it is pursuing mining opportunities for critical minerals abroad which includes lithium block in Australia. Critical minerals such as copper, lithium, nickel and cobalt are important components in rapidly growing clean energy technologies - from wind turbines and electricity networks to electric vehicles. "NMDC is... pursuing overseas mining opportunities for critical minerals like lithium, cobalt, and nickel through its subsidiary, Legacy India Iron Ore Ltd, which includes lithium mining operations in Australia," the company said in a statement. NMDC is also preparing to begin the production of its eight million tonnes of coking coal block by December next year. This move aims to reduce the country's reliance on the import of coking coal. NMDC is set to nearly double its production capacity to 100 million tonnes (MT) by 2030. This ambitious expansion will significantly enhance the company's infrastructure, operations, an

NMDC reports 9.9% drop in iron ore production at 3.07 mn tonnes in August

Country's largest iron ore miner NMDC on Monday reported a 9.9 per cent drop in production of iron ore at 3.07 million tonnes (MT) in August. The company had produced 3.41 MT of iron ore in the corresponding month of the previous fiscal, NMDC said in a regulatory filing. The company's sales also declined to 3.14 million tonnes in August this year, from 3.54 MT in the corresponding month of previous fiscal. The company's cumulative iron ore output fell to 14.43 MT in April-August 2024, from 16.56 MT in the year-ago period. Sales dropped to 16.27 MT in April-August period, from 17.43 MT in the corresponding period of previous fiscal.

Dantewada administration imposes Rs 1,620.5 cr fine on NMDC for violations

The administration in Chhattisgarh's Dantewada district has imposed a penalty of Rs 1,620.5 crore on the National Mineral Development Corporation (NMDC), a central PSU, for alleged violation of mining laws, officials said on Saturday. The NMDC has termed the move "completely inappropriate" and claimed the penalty was imposed "solely and blindly without considering the facts and circumstances in the case". The NMDC has mining operations in Bailadila hills in Kirandul and the Bacheli area of Dantewada in the Bastar region. In a letter dated August 29, Dantewada collector Mayank Chaturvedi directed the NMDC to deposit the penalty amount within 15 days. The letter stated that iron ore mining leases have been approved for Deposit No. 14 ML in an area of 322.368 hectares, Deposit No. 14 NMZ in 506.742 hectares, and Deposit No. 11 in 874.924 hectares in Kirandul village under Bacheli tehsil of Dantewada to the NMDC. The collector wrote that the NMDC's clarifications to the show cause not

Pricing weakness likely to weigh on Indian steel companies stocks

In Q1FY25, Tata Steel and JSW Steel posted flat operating profit margins as higher volumes and lower input prices compensated for low steel prices

Nifty PSE off its all-time high; what's worrying the investors?

In the past two months, major PSE index constituents are experiencing profit booking. Here's how analysts view the space

NMDC Steel's hot rolled coil production hits 1 MT-mark within a year

State-owned NMDC Steel Limited (NSL) on Wednesday announced producing 1 million tonnes of hot rolled coil (HRC) at its plant in Nagarnar, Chhattisgarh in a year's time. NMDC Steel Ltd, an entity demerged and formed from mining firm NMDC, owns and operates the 3 million-tonne Nagar Steel Plant -- referred as India's youngest steel unit -- and has been set up with an investment of around Rs 23,000 crore. "NSL announces a landmark achievement of its production capabilities. Today, this ultra-modern plant has successfully produced 1 MT HRC four days ahead of the first anniversary of commencement of HR coil production," the company said in a statement. On July 21, 2024, the company had achieved the production of 1.5 MT of hot metal from its blast furnace and produced 1 MT of liquid steel from the steel making shop (SMS) on August 11. Both milestones were reached in less than a year from the commencement of production, the company said. The company's CMD Amitava Mukherjee said, "Achievi

SAIL, NMDC are down up to 9% in 1 month; is it time to buy steel stocks?

Domestic steel spread is at Rs 24,330 per tonne ( the lowest since March 2024) and the price of hot rolled coil (HRC) is at Rs 51,370 per tonne (the lowest since December 2020), said Dixit

Financial bids for Chhattisgarh-based NMDC Steel likely in two months

The Union Budget has set the target for miscellaneous capital receipts, including disinvestment, at Rs 50,000 crore for FY25 compared to the revised estimate of Rs 30,000 crore for FY24

Mining corporation revamps decision-making to fast-track projects

The powers delegated to the CMD would now flow down following a pyramid structure of hierarchy