Shares of NMDC fell 2% in morning trade after it announced a yoy fall in production and sales of iron ore (provisional) for November 2019.
The company achieved a total production of 2.94 million tonnes in November 2019 compared to 3.29 million tonnes in November 2018.
The company reported an increase of 3.36% in cumulative iron ore sales to 19.99 million tonnes between April-November 2019 as against a sale of 19.34 million tonnes in the same period last year.
The company’s Chhattisgarh mines accounted for a bulk of the sales at 14.85 mt against 13.78 mt last year, the contribution of the company's mines in Karnataka was lower at 5.14 mt this year compared to 5.56 mt in 2018.
NMDC Ltd is currently trading at Rs102.65, down by Rs2.85 or 2.7% from its previous closing of Rs105.50 on the BSE.
The scrip opened at Rs105 and has touched a high and low of Rs106 and Rs102.30 respectively.
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