NMDC gains from momentum in Chinese iron ore futures
DSIJ Intelligence / 31 Jul 2017
NMDC, a wholly-owned government enterprise involved in the exploration of wide range of minerals including iron ore, copper, rock phosphate, lime stone, etc., surged on the Indian bourses.
NMDC, a wholly-owned government enterprise involved in the exploration of wide range of minerals including iron ore, copper, rock phosphate, lime stone, etc., surged on the Indian bourses. The stock witnessed spurt in volume by more than 1.40 times, taking cues from northward movement of Chinese iron ore futures.
Iron ore futures in China are moving upwards in the morning hours on Monday. The futures have hit the upper circuit of 8% and are trading at four months’ high.
The NMDC stock touched its intraday high of Rs 128.2 per share, up by 4.48%. NMDC is India’s single-largest iron ore producer, presently producing about 30 million ton of iron ore from three fully mechanized mines viz., Bailadila Deposit-14/11C, Bailadila Deposit-5, 10/11A (Chhattisgarh) and Donimalai Iron Ore Mines (Karnataka).
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.