NMDC shares today surged 5.76 per cent to settle at Rs 248. At this price, the stock traded 1.84 per cent lower than its one-year high value of Rs 252.65, a level seen earlier this year on February 15.
NMDC, ICICI Securities said, has an opportunity to consolidate its position in merchant mining space even in Odisha where mining scenario has changed considerably post the auctions.
Gujarat Mineral Development Corporation (GMDC), on April 25, 2022, in its Q4 results, reported a combined profit after tax (PAT) of Rs 176.99 crore for the quarter ended March 2022, as per a PTI report. Get more Companies News and Business News on Zee Business.
Read more about NMDC zooms 6% on report Credit Suisse initiates coverage, sees 45% upside on Business Standard. Credit Suisse has initiated coverage on the stock with an Outperform rating. It also has a target price of Rs 162 on the stock