Buy NMDC, target price Rs 109: Motilal Oswal

Motilal Oswal has given a buy rating to NMDC with a target price of Rs 109. The share price moved down by 0.91 per cent from its previous close of Rs 93.50. The stock’s last traded price is Rs 92.65.

NMDC Ltd., incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 28383.35 Crore) operating in Mining sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 2229.89 Crore, up 15.09 % from last quarter Sales of Rs 1937.50 Crore and down -.53 % from last year same quarter Sales of Rs 2241.76 Crore Company reported net profit after tax of Rs 772.53 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 69.7 per cent stake in the company as of June 30, 2020, while FIIs held 5.4 per cent, DIIs 20.4 per cent and public and others 4.6 per cent.