Sell NMDC, target price Rs 83: Kunal Bothra

Kunal Bothra has sell call on NMDC with a target price of Rs 83. The current market price of NMDC is Rs 87.1. Kunal Bothra recommended to keep stop loss at Rs 90.

NMDC key products/revenue segments include iron ore which contributed Rs 11,490.93 crore to sales value (98.93 per cent of total sales), sale of services which contributed Rs 56.17 crore to sales value (0.48 per cent of total sales), diamonds which contributed Rs 35.17 crore to sales value (0.30 per cent of total sales), pellet which contributed Rs 25.40 crore to sales value (0.21 per cent of total sales), power which contributed Rs 6.50 crore to sales value (0.05 per cent of total sales), other operating revenue which contributed Rs 0.74 crore to sales value (0.00 per cent of total sales) for the year ending 31 March, 2018.

For the quarter ended 30-06-2019, the company has reported consolidated sales of Rs 3,263.74 crore, down 10.42 per cent from last quarter sales of Rs 3,643.32 crore and up 34.75 per cent from last year same quarter sales of Rs 2,421.99 crore. The company has reported a net profit after tax of Rs 1,178.01 crore in the latest quarter. The company’s top management includes CA.A K Srivastava, Narendra K Nanda, Syamal Kumar Sarkar, Alok Kumar Mehta, Amitava Mukherjee, Ashok Kumar Angurana, N. Baijendra Kumar, P K Satpathy, Pradip Bhargava, S M Nigam, Saraswati Prasad, Sumit Deb, Bhagwati Mahesh Baldewa, Rasika Chaube. Company has Tej Raj & Pal as its auditors. As on 30-06-2019, the company has a total of 3,06,18,49,659 shares outstanding.