Buy NMDC, target price Rs 170: ICICI Direct

ICICI Direct has buy call on NMDC with a target price of Rs 170. The current market price of NMDC Ltd. is Rs 161.4.
Time period given by analyst is Intra Day when NMDC Ltd. price can reach defined target.

NMDC Ltd., incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 47299.98 Crore) operating in Mining sector.


NMDC Ltd. key Products/Revenue Segments include Iron Ore, Pellet, Sale of services, Diamonds, Power and Other Operating Revenue for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 6026.68 Crore, down -12.43 % from last quarter Total Income of Rs 6882.44 Crore and up 35.10 % from last year same quarter Total Income of Rs 4460.97 Crore. Company reported net profit after tax of Rs 2048.40 Crore in latest quarter.

Investment Rationale
Breakout above last six months range and MACD in buy mode

Promoter/FII Holdings
Promoters held 60.79 per cent stake in the company as of 31-Dec-2021, while FIIs owned 5.32 per cent, DIIs 21.85 per cent.