Shares of Iron ore producer NMDC Ltd have increased by 7.4 percent since last week's announcement of its manufacturing and sales numbers in May 2019. Over the respective period last year, production and revenues for the month improved robustly by 43 percent and 46 percent respectively.
That implies that for the first two months of FY20, cumulative year-on-year production and sales development were 31% and 34% respectively.
This has laid a nice tone in the present quarter for the results of the company. NMDC is likely to report reasonable volume growth in the first quarter of FY20, according to Edelweiss Securities Ltd, despite a two-day manufacturing loss in its June activities in Bailadila (Chattisgarh).
It also helps to make worldwide prices of iron ore strong, which can increase the export achievements of the company.
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