NMDC rises after hiking iron ore prices


NMDC gained 2.07% to Rs 128.20 after the PSU miner hiked prices of iron ore with effect from 21 March 2021.

The company increased lump ore prices by Rs 250, or 4.9%, to Rs 5,350 per tonne on 21 March 2021 from Rs 5,100 per tonne set on 7 February 2021.

Prices of fines were hiked by Rs 100, or 2.38%, to Rs 4310 per tonne on 21 March 2021 from Rs 4,210 per tonne set on 7 February 2021.

NMDC is India’s single largest iron ore producer, presently producing about 35 million tonnes of iron ore from 3 fully mechanized mines, two located in Chhattisgarh and one in Karnataka. As on 31 December 2020, Government of India held 69.65% stake in the company.

The company reported 54.75% jump in consolidated net profit to Rs 2157.81 crore on a 44.86% rise in sales to Rs 4355.10 crore in Q3 FY21 over Q3 FY20.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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