Jan 13, 2014, 09.20 PM IST
NMDC, which fixes the price of the important steel-making input on monthly basis, "rolled over" the December price – Rs 4,500 per tonne for lumps and Rs 2,810 a tonne for fines – for the current month, the company said in a BSE filing today.
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NMDC keeps iron ore prices unchanged for Jan
NMDC, which fixes the price of the important steel-making input on monthly basis, "rolled over" the December price – Rs 4,500 per tonne for lumps and Rs 2,810 a tonne for fines – for the current month, the company said in a BSE filing today.
Like this story, share it with millions of investors on M3
NMDC keeps iron ore prices unchanged for Jan
NMDC, which fixes the price of the important steel-making input on monthly basis, "rolled over" the December price – Rs 4,500 per tonne for lumps and Rs 2,810 a tonne for fines – for the current month, the company said in a BSE filing today.
NMDC , which fixes the price of the important steel-making input on monthly basis, "rolled over" the December price – Rs 4,500 per tonne for lumps and Rs 2,810 a tonne for fines – for the current month, the company said in a BSE filing today. Production by NMDC went up to 20.17 MT during the nine month of the current fiscal compared to 17.57 MT in the same period last fiscal.
A possible reason for maintaining status quo is sluggish growth in sales which grew by just 2.96 million tonnes (MT) to 21.25 MT in the first nine months of the current fiscal.
Company officials could not be reached for comments.
The PSU had in December last year raised price for both lumps and fines by Rs 200 per tonne and maintained the October price in November. In October, it had increased the price by Rs 100 a tonne.
Meanwhile, domestic steel makers have raised prices by up to Rs 1,500 per tonne in the current month to tide over the rising input and freight costs and aimed at improving falling margins.
The subdued market conditions, as a result of poor demand from end-use segments such as construction and white goods, also prevented them from jacking up the price. India's steel demand grew by just 0.5 per cent during April-December period of the current fiscal.
NMDC stock price
On January 13, 2014, NMDC closed at Rs 141.10, up Rs 1.95, or 1.40 percent. The 52-week high of the share was Rs 165.10 and the 52-week low was Rs 92.65.
The company's trailing 12-month (TTM) EPS was at Rs 14.25 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 9.9. The latest book value of the company is Rs 69.39 per share. At current value, the price-to-book value of the company is 2.03.
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