NMDC:
- The NMDC Limited is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel. It is India’s largest iron ore producer and exporter producing about 30 million tons of iron ore from 3 fully mechanized mines in Chhatisgarh and Karnataka. It also operates the only mechanized diamond mine in the country at Panna in Madhya Pradesh. It was founded on 1958 & Head Quarters is at Hyderabad, Andhra Pradesh.
- NMDC Ltd. is presently producing about 22.8 million tonnes of iron ore from its Bailadila sector mines and 6.98 million tonnes from Donimalai sector mines.
- Strong back up of an ISO 9001 certified R&D centre, which has been declared as the “Centre of Excellence” in the field of mineral processing by the Expert Group of UNIDO.
- NMDC is involved in the exploration of Iron Ore, Copper, Rock Phosphate, Lime Stone, Dolomite, Gypsum, Bentonite, Magnesite, Diamond, Tin, Tungsten, Graphite, and Beach sands.
- NMDC Ltd has gained more than 3% on successful sale of 10 per cent stake in NMDC. After this offer for sale, NMDC’s free float will double to 20 per cent.
- The government witnessed strong participation from foreign investors and managed to mop up Rs 6,000 crore from the sale of its 10% stake which is a positive move in NMDC. Before this, pattern is like this, 90 percent by government, 8 percent by the local institutions that is LIC 6 percent and some domestic institutions. So NMDC is likely to remain in upbeat mood.
- NMDC is the first major PSU issue to sail through without requiring the help of LIC. There is still no breakout or nothing significant to indicate a buy on charts except fundamental valuations & reasons.
- We are bet to Grab Share near 155 with Stop loss 135 for Target 180-200 in Time Period of 3-4 Months.