NMDC gets robust response for OFS
Giving a robust response to the disinvestment in state-owned NMDC, institutional investors on Tuesday put in bids for over 6.36 crore shares amounting to 976 crore in the offer-for-sale.Based on...09-01-2018
09-01-2018
Statement Of Investor Complaints For The Quarter Ended 31St December 2017
Statement of Investor Complaints for the quarter ended 31st December 201709-01-2018
Updates
Details of Production & Sales of Iron Ore (Provisional) upto the month of December 201709-01-2018
Centre to sell 1.5% stake in NMDC, expects to raise 750 crore
The Centre will sell 1.5 per cent of its equity stake in state-run NMDC on Tuesday. The government proposes to sell up to 4.74 crore (1.5 per cent) equity shares of the face value of 1 each in...08-01-2018
Notice of Offer for Sale of Shares by Promoter & Floor Price
The President of India, acting through and represented by the Ministry of Steel, Government of India, is the promoter of NMDC Limited (the Promoter). The Promoter (the Seller) proposes to sell up to 4,74,58,357 (1.5%) equity shares of the face value of Re. 1/- each (Base Offer Size) on January 09, 2018 (T day) (for non-Retail Investors only) and on January 10, 2018 (T+1 day) (for Retail Investors and for non-Retail Investors who choose...08-01-2018
Iron ore price hike forces steel firms to pass on cost: Sajjan Jindal
A hike in iron ore prices by state-run NMDC has left steel companies with no choice but to pass on the increased production cost to customers, JSW Steel Chairman Sajjan Jindal has said. "Recent increase in iron-ore price by state owned NMDC & Orissa pvt. miners is forcing steel companies to pass on increased cost of production," Jindal said in a tweet. On January 2, 2017, the country's largest iron ore miner NMDC increased prices of higher grade iron (lumps) by Rs 500 to Rs 3,100 per tonne for the current month. The state-run firm also raised the prices for iron ore fines, which is inferior grade ore, by Rs 500 to Rs 2,760 per tonne for January. The increased cost of other raw materials like coal, refractory, electrodes is further fueling this and leaving no other option, Jindal said. The price hike in January is the third-straight rise since November 2017 when NMDC had fixed the rates of lump ore at Rs 2,300 a tonne and that of fines at Rs 2,060 a tonne. In December04-01-2018
NMDC's higher realizations up against lower sales
A further increase in prices may help but NMDC needs volumes to recover03-01-2018
Iron ore prices on fire as Odisha miners, NMDC hike prices
The closure of several large iron ore mines in Odisha for non-payment of the penalty imposed for excess mining over the past decade has put ore prices on fire. The uncertainty on availability has encouraged another big supplier, central government-owned NMDC, to raise its prices sharply.Between October 2017 and now, merchant miners in Odisha have raised the iron ore lump price by 49 per cent and of fines by 59 per cent. In this period, NMDC increased the price by 35 per cent for lumps and eight per cent for fines. With Odisha and NMDC together accounting for 45 per cent of iron ore supply to the domestic steel industry, this has put the latter under stress.The pace of increase in ore prices within the country is more than double the rate of swing in the commodity in the international sphere, making it clear that the hike is more due to local factors than import demand from China.The main factor is uncertainty over production in Odisha, where 55 per cent of the country's total iron ..03-01-2018
After NMDC, Odisha miners follow suit and hike iron ore prices
Key merchant iron ore producers in Odisha like Rungta Mines and KJS Ahluwalia have gone for sharp price increases29-12-2017