NMDC inches up on planning to invest in renewable energy sector

NMDC is currently trading at Rs. 108.95, up by 0.05 points or 0.05% from its previous closing of Rs. 108.90 on the BSE.

NMDC 390x260
NMDC 390×260

The scrip opened at Rs. 108.50 and has touched a high and low of Rs. 110.65 and Rs. 107.40 respectively. So far 396009 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 186.45 on 30-Jul-2021 and a 52 week low of Rs. 101.60 on 23-Jun-2022.

Last one week high and low of the scrip stood at Rs. 111.40 and Rs. 103.60 respectively. The current market cap of the company is Rs. 31943.60 crore.

The promoters holding in the company stood at 60.79%, while Institutions and Non-Institutions held 28.69% and 10.51% respectively.

NMDC is planning to invest in the renewable energy sector.

The company is exploring locations in Telangana to set up solar capacities.

The company may also set up the plant on the land available with its sponge iron unit, which is not operational at the moment.

Located at Paloncha in Telangana, NMDC’s sponge iron unit has a capacity 100-tonnes-per-day.

NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.

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