NMDC shares bounced back after hitting a low above Rs 190 in March this year. The stock also underwent mild consolidation in early April. NMDC shares have advanced over 8% in the last 5 sessions, which helped the stock to breakout from the consolidation range.
LKP Securities initiates buy rating on NMDC with target price of ₹297/share, expecting 20% increase. The company, largest iron ore producer in India, plans aggressive mine capacity expansion to meet growing steel demand.
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 shares last traded at 4.5 times FY26 estimated EV/Ebitda and 1.7 times FY26 estimated book value. The stock delivered 83 per cent return in the past one year against 95 per cent return by the BSE PSU index during the same period.