JPMorgan has reiterated its ‘Underweight’ rating on NMDC, with a target price of ₹210, indicating a potential 10% downside from the current market price (CMP) of ₹233.50. Key points from JPMorgan’s analysis include:
- Q2 EBITDA Miss: NMDC’s Q2 EBITDA was below expectations, affected by an unfavorable inventory impact and higher other expenses.
- Outlook on Consensus Estimates: JPMorgan does not anticipate significant changes to consensus estimates, as the inventory impact is expected to reverse in the second half of the fiscal year.
- Stock Reaction: JPMorgan expects NMDC’s shares to react slightly negatively in response to the EBITDA miss.
Disclaimer: This information is for informational purposes only and does not constitute financial advice.
