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NMDC share rises over 5% as firm logs 23% increase in iron ore output

NMDC share touched an intraday high of Rs 122.3, rising 5.11% against previous close of  Rs 116.35

twitter-logoBusinessToday.In | January 4, 2021 | Updated 11:43 IST
NMDC share rises 5% as firm logs 23% increase in iron ore output
NMDC share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

NMDC share gained over 5% in early trade today after the firm reported a 23.3% rise in December iron ore production. The share touched an intraday high of Rs 122.3, rising 5.11% against previous close of  Rs 116.35. The stock has gained 6.6% in the last 2 days. Total 7.67 lakh shares of the firm changed hands on BSE.

NMDC share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The large cap share has lost 5.61% in one year and gained 6.6% since the beginning of this year.

In a month, the share has climbed 14.24%.

Market cap of the firm rose to Rs 37,186 crore on BSE.

The country's largest iron ore producer logged a rise in sales and output for fifth month in 2020 in comparison to corresponding period of previous fiscal.

Iron ore production for December 2020 rose to 3.86 MT (Million Tonne) against 3.13 MT in December 2019, thereby logging a growth of 23.3%.

In Q3 of FY20, output stood at 9.61 MT against the production of 8.56 MT in Q3 of FY19, registering a growth of 12.3%  on an year on year basis. Iron ore sales for December 2020 climbed to 3.62 MT against the sales level of 3.04 MT in December 2019, registering a growth of 19.1%.

Meanwhile, Sensex rose above 48,000 mark for first time today after approval to two domestic coronavirus vaccines for emergency use. During today's session, Sensex hit a lifetime high of 48,168 and Nifty rose to a new high of 14,107.

Drugs Controller General of India (DCGI) on January 3 granted restricted emergency use authorisation for the Serum Institute of India (SII)'s 'Covishield' and Bharat Biotech's 'Covaxin' vaccines against COVID-19.

Share Market News Live: Sensex rises above 48K for first time, Nifty at 14,100; TCS, L&T, ONGC top gainers

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