NMDC to bank on price hikes now
There is not much for investors to do in NMDC Ltd stock. Its shares have gained nearly 39% in 2023 so far. Investors are happy with the state-owned iron ore producer’s steady progress towards its FY24 volume target. NMDC aims to clock a volume in the range of 47-49 million tonnes this fiscal year. In the first seven months of FY24, volume was 23.5 million tonnes, up 19% year-on-year. This means that the demand is now lower. To reach the midpoint of its guidance range, NMDC needs to record lower growth of nearly 14% in the remaining months.
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