NMDC trades higher on the bourses

NMDC is currently trading at Rs 151.40, up by 1.90 points or 1.27% from its previous closing of Rs. 149.50 on the BSE. The scrip opened at Rs 149.85 and has touched a high and low of Rs 152.90 and Rs. 149.85 respectively. So far 190395 shares were traded on the counter. The BSE group 'A ' stock of face value Rs 1 has touched a 52 week high of Rs 153.65 on 11-Apr-2014 and a 52 week low of Rs 92.65 on 06-Aug-2013. Last one week high and low of the scrip stood at Rs 151.90 and Rs 148.70 respectively. The current market cap of the company is Rs 60045.62 crore. The promoters holding in the company stood at 80.00% while Institutions and Non-Institutions held 16.80% and 3.20% respectively. NMDC is all set to start trial production at its Rs 572 crore pellet plant at Donimalai in Karnataka, though commercial output may begin towards the end of the year. The pellet plant will commence trial operation in April-May this year. In this regard, the company has already floated a tender seeking expression of interest from prospective buyers. The 1.2 million tonne per annum Donimalai plant will produce blast furnace-grade pellets with 65 per cent iron content in sizes between six and 16 mm. Further, the company is also setting up a 2 million tonne per annum pellet plant in Chhattisgarh. 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.