Shares of National Mineral Development Corporation (NMDC) rose over 2% after the company announcement of a significant ₹70,000 crore investment to boost its capacity to 100 million tonnes per annum (MTPA) by 2030. This ambitious expansion is part of NMDC’s Vision 2030 strategy to transform the company into a global mining powerhouse.
Amitava Mukherjee, CMD of NMDC, emphasized that this is a once-in-a-lifetime opportunity to accelerate growth, aligning with the National Steel Policy’s vision to ensure raw material security and self-reliance for the iron and steel industry. The company recently hosted a stakeholders’ meeting in Hyderabad, where it outlined its roadmap for achieving the 100 MTPA target.
During the meeting, NMDC detailed its expansion plans, evacuation strategies, and digital transformation initiatives. The company also emphasized its commitment to ease of doing business, calling on vendors, contractors, and consultants to focus on speed and quality.
NMDC shares opened at ₹64.20, with a high of ₹65.44 and a low of ₹64.15 today. The stock is currently trading between its 52-week high of ₹95.45 and low of ₹59.70. As of 9:43 AM, the shares were trading 2.41% higher at Rs 65.43.
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