NMDC said to have hiked prices by up to ₹400 per tonne: Exclusive
State-run NMDC Ltd. is said to have hiked its prices by up to ₹400 per tonne for lumps and fines, effective from today, sources with knowledge of the matter told CNBC-TV18.
Sources said that the prices have been hiked between ₹300 to ₹400 per tonne.
NMDC's prices in the domestic market have corrected by ₹1,000 to ₹1,100 per tonne since May this year.
Shares of NMDC are currently trading 1.2% lower on Tuesday at ₹242, having rallied for eight days in a row, until closing on Monday.
A key factor behind the recent rally in NMDC shares has been the recovery in global iron ore prices, which have surged more than 25% from their recent lows in September.
Another factor boosting sentiment around NMDC is the anticipation that the steel production in the second half of the current financial year will be ramped up.
NMDC shares are currently trading at ₹241.81. The stock is still some distance away from its recent highs of ₹286.35.
Sources said that the prices have been hiked between ₹300 to ₹400 per tonne.
NMDC's prices in the domestic market have corrected by ₹1,000 to ₹1,100 per tonne since May this year.
Shares of NMDC are currently trading 1.2% lower on Tuesday at ₹242, having rallied for eight days in a row, until closing on Monday.
A key factor behind the recent rally in NMDC shares has been the recovery in global iron ore prices, which have surged more than 25% from their recent lows in September.
Another factor boosting sentiment around NMDC is the anticipation that the steel production in the second half of the current financial year will be ramped up.
NMDC shares are currently trading at ₹241.81. The stock is still some distance away from its recent highs of ₹286.35.