JSW Steel rises 2% on gas supply worries HSBC raises Tata Steel target to ₹250 British Steel to supply 120,000 mt billet to Nigeria ₹3,200 crore Tata Steel EAF starts in Ludhiana
The National Mineral Development Corporation Ltd (NMDC), a state-run company, has raised its lumps and fines rates beginning May 28. According to the report, NMDC increased fines by ₹350 and lump ore pricing by ₹250 per tonne. This is the second price increase in the past two months. In April, NMDC increased fines by ₹200 and lump ore prices by ₹400.
The largest producer of iron ore in India, NMDC is primarily focused on the local market. On May 27, NMDC recorded a consolidated net profit of ₹1,412.67 crore for the March quarter of FY24, a 37.8% decrease from ₹2,271.53 crore in the same period last year.
NMDC's consolidated revenue increased by 10.9% to ₹6,489.31 crore year on year, and over time, it increased by 20%.
Iron ore sales rose 10.9% YoY to ₹6427.24 crore, the company said in an investor presentation.
The results come amid robust demand for iron ore, a key steel-making ingredient, as the government continues its infra-spending spree.
Also Read : NALCO's FY24 profits rise 34% to ₹2060 crore, exceeding market forecasts SJVN Green Energy, J&K Power Corporation ink pact for 300 MW power supply
According to the Chief minister Pramod Sawant the state government will allow those mining companies...
Announcement 13-May-2024
Govt Plans 30% Export Tax on Low-Grade Iron Ore to Aid Steelmakers The Indian Government is reporte...
India 10-Sep-2025
Canada Announces Tariffs and Support to Protect Domestic Steel Industry Canada is taking decisive s...
Announcement 17-Jul-2025
India’s steel exports in May 2024 fell by 24% to 0.5 million tonnes (MT) from 0.66 MT in April...
Ferrous 14-Jun-2024
Jindal Steel has remained in focus after breaking out of a 20-month consolidation phase, with...
Business 05-Mar-2026
In a strategic move to bolster its position in the heavy equipment manufacturing industry, Gainwell...
Mid Corporate 25-Jan-2024