NMDC slips after cutting iron ore prices

NMDC had cut the price of iron ore on November 26 by 13% to Rs. 2,100 per tonne from Rs. 2,400 earlier.

NMDC slipped 0.4% to Rs. 91.40 on BSE. The company has cut prices of iron ore by 15% to Rs. 1,800 per tonne on Friday.

NMDC's iron prices have come down by 25% in last two weeks. NMDC had cut the price of iron ore on November 26 by 13% to Rs. 2,100 per tonne from Rs. 2,400 earlier.

The scrip opened at Rs. 92 and has touched a high and low of Rs. 92.75 and Rs. 90.65 respectively. So far 6,39,172 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 36376.12 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 148.95 on 02-Jan-2015 and a 52 week low of Rs. 90.1 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 96.5 and Rs. 91.4 respectively.

The promoters holding in the company stood at 80 % while Institutions and Non-Institutions held 16.55 % and 3.45 % respectively.

The stock is currently trading above its 200 DMA.