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It's been a roller coaster ride for the public sector undertaking (PSU) National Mineral Development Corporation or NMDC since the declaration of its JulySeptember quarter results for the 202223 financial year (Q2FY23). The stock price went up to 114 prior to the results.
and then dropped to *105 before recovering to its current market price of *111. The metals and mining major saw a decline in net sales, of 51 per cent yearon-year (YoY) and 30 per cent quarter-on quarter (QoQ), to 3,300 crore in Q2.
Iron ore sales volumes fell 6 per cent YOY (up 8 per cent QoQ) to 8.43 million tonnes (MT). The price and volume decline in iron ore reflects the demand slowdown.
This story is from the November 19, 2022 edition of Business Standard.
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This story is from the November 19, 2022 edition of Business Standard.
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