NMDC Ltd., incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 27786.29 Crore) operating in Mining sector.
By ETMarkets.com | Updated:
Agencies
Promoters held 69.7 per cent stake in the company as of Sept 30, 2020, while FIIs held 4.5 per cent, DIIs 20.5 per cent and public and others 5.4 per cent.
Motilal Oswal has given a buy rating to NMDC with a target price of Rs 109. The share price moved up by 0.01 per cent from its previous close of Rs 90.70. The stock’s last traded price is Rs 90.70.
NMDC Ltd., incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 27786.29 Crore) operating in Mining sector.
Financials For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 2229.89 Crore, up 15.09 % from last quarter Sales of Rs 1937.50 Crore and down -.53 % from last year same quarter Sales of Rs 2241.76 Crore Company reported net profit after tax of Rs 772.53 Crore in latest quarter.
Investment Rationale The brokerage has raised FY21/FY22E EBITDA estimates by 16%/15% to factor in higher iron ore prices. It, however, cuts valuation multiple to 4.0x FY22E EV/EBITDA (earlier 5.0x) due to the risk to margins from likely increase in government levies, which has resulted in a cut to TP to INR109/share. Promoter/FII Holdings Promoters held 69.7 per cent stake in the company as of Sept 30, 2020, while FIIs held 4.5 per cent, DIIs 20.5 per cent and public and others 5.4 per cent.
