NMDC shares up 3% on smart third quarter result

Shares of iron ore producer NMDC gained 3 per cent in early trade on the Bombay Stock Exchange on Wednesday, buoyed by the company's robust third quarter earnings.

NMDC, the country's largest producer of iron ore, had on Tuesday reported 81 per cent growth in net profit for the October-December quarter to Rs 1,518 crore.

Propelled by the strong performance, NMDC's counter advanced 3 per cent to an early high of Rs 273 on BSE. In a similar fashion, the stock jumped 2.88 per cent to an early high of Rs 273 on the National Stock Exchange.

Meanwhile, the 30-share Sensex index of the BSE was trading 187.56 points higher, at 18,209.78, at 10.17 am.