Ethical Research - NMDC extends losses after cutting iron ore price; stock down 4%

NMDC Ltd. shares shed another 4% on Friday after losing 4% in the previous session after the company slashed iron ore prices.

The company announced that the prices of Iron Ore w.e.f. 19-09-2019 have been fixed as i) Lump Ore ( 65.53, 6-40mm) @Rs2.700/- per ton and ii) Fines (643, - 1 Omm) @Rs2,460/- per ton.

NMDC Ltd is currently trading at Rs80.30 down by Rs3.7 or 4.4% from its previous closing of Rs84 on the BSE.

The scrip opened at Rs84.05 and has touched a high and low of Rs84.20 and Rs80.05 respectively. So far 25,07,448 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs25,719.54cr.

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