After years of underperformance, NMDC stock strikes when iron is hot

Rally fuelled by global rise in iron prices; stock trading at P/E multiple of 13x

NMDC under pressure to cut iron ore prices for April

The recent rally in NMDC has been fuelled by global rise in iron prices

Krishna Kant Mumbai
After years of underperformance, iron ore miner NMDC’s (formerly National Mineral Development Corporation) stock price is up 55 per cent since the beginning of October 2019, against a 24 per cent rally in the Sensex during the period. After its recent rally, the stock is back to its year-ago levels, even as the Sensex is up 16 per cent in the last 12 months.

This will, however, be music to the ears of long-term investors who have lost heavily in the past decade. But the iron ore miner is still down nearly 70 per cent from its all-time highs in early 2010. Clearly, the stock has a lot of ground to cover.

The recent rally in NMDC has been fuelled by global

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First Published: Jan 08 2021 | 12:27 AM IST

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