Higher prices, volumes key positives for iron ore miner NMDC stock

The company is likely to push iron ore capacity up, from the current rated 50 MTPA to 70 MTPA, which would leave it well-placed to meet demand in the next up cycle

Devangshu Datta
Last Updated at March 24, 2023 22:54 IST

Iron ore major National Mineral Development Corporation (NMDC) looks like an interesting prospect. The public sector undertaking (PSU) has spun off its steel plant as a listed concern, NMDC Steel. It has hiked ore prices four times since November 2022, after removal of export duty, in response to strong trends. Overall, this is a 42 per cent hike in ore prices (averaged across fines and lumps) since November 2022, suggesting margin expansion and earnings upgrades in the fourth quarter of the 2022-23 (Q4FY23).

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