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Scrips, which has significant changes during the market hours.

NMDC reduces iron ore prices

30-May-23 15:09Hrs IST

The prices of lump ore (65.5%, 6-40mm) have been decreased by Rs 600 or 13.33%, to Rs 3,900 per ton compared with Rs 4,500 per ton fixed on 21 March 2023.

The prices of iron ore fines (64%, -10 mm) have been declined by Rs 550 or 13.38%, to Rs 3,560 per ton from Rs 4,110 per ton set on 21 March 2023.

NMDC is India's single largest iron ore producer, presently producing about 35 million tonnes of iron ore from 3 fully mechanized mines, two located in Chhattisgarh and one in Karnataka. As of 31 December 2022, the Government of India held 60.79% stake in the firm.

The company reported 22% jump in consolidated net profit to Rs 2,277 crore on despite an 18% fall in total income to Rs 5,839 crore in Q4 FY23 as compared with Q4 FY22.

The scrip rose 0.37% to currently trade at Rs 107.25 on the BSE.

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