Shares of NMDC Ltd. rose 3.41% to ₹67 in early trade on Thursday following the company’s decision to revise iron ore prices upward for the first time in four months. The hike comes amid broader optimism triggered by a delay in the Karnataka Mineral Rights Bill.
According to an exchange filing, NMDC increased the price of Baila Lump by ₹440 to ₹6,440 per tonne, and Baila Fines by ₹440 to ₹5,500 per tonne, effective May 1, 2025. The last price revision occurred in January 2025.
These prices are inclusive of royalty, DMF, and NMET, but exclusive of other levies like cess, GST, and environmental fees.
In parallel, market sentiment turned positive due to the delay in the Karnataka Mineral Rights Bill, which had proposed higher mining levies. The bill has been sent to the President for approval, causing a temporary relief for NMDC, which derives over 30% of its revenue from the state. The delay is also seen as beneficial for peers like JSW Steel, Vedanta, and Sandur Manganese.
With a market cap of ₹588.17 billion and a P/E ratio of 9.08, NMDC continues to draw attention amid price and policy tailwinds. The stock hit a day high of ₹67.24 on Thursday with over 20 million shares traded, as per exchange data.
