Sell NMDC, target Rs 109: Pritesh Mehta

Pritesh Mehta of IIFL has a sell call on NMDC with a target price of Rs 109.

The current market price of NMDC is Rs 119.05.

Time period given by the analyst is intraday when NMDC price can reach defined target.

Pritesh Mehta recommended to keep a stop loss at Rs 122.

NMDC, incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 37,413 Crore) operating in Mining sector.

NMDC key Products/Revenue Segments include Iron Ore which contributed Rs 8,708.90 Crore to Sales Value (98.63 per cent of Total Sales), Sale of services which contributed Rs 57.84 Crore to Sales Value (0.65 per cent of Total Sales), Diamonds which contributed Rs 41.91 Crore to Sales Value (0.47 per cent of Total Sales), Sponge Iron which contributed Rs 13.13 Crore to Sales Value (0.14 per cent of Total Sales), Power which contributed Rs 7.48 Crore to Sales Value (0.08 per cent of Total Sales) and Other Operating Revenue which contributed Rs .38 Crore to Sales Value (0.00 per cent of Total Sales)for the year ending 31-Mar-2017.

For the quarter ended 30-06-2017, the company has reported a Standalone sales of Rs 2,841.53 Crore, down 1.03 per cent from last quarter Sales of Rs 2,871.04 Crore and up 65.14 per cent from last year same quarter Sales of Rs 1,720.65 Crore.

Company has reported net profit after tax of Rs 969.20 Crore in latest quarter.

The company’s top management includes CA.A K Srivastava, Dr.Narendra K Nanda, Dr.Syamal Kumar Sarkar, Dr.T R K Rao, Mr.D S Ahluwalia, Mr.P K Satpathy, Mr.Pradip Bhargava, Mr.R Sridharan, Mr.Rajesh Mangal, Mr.S M Nigam, Mr.Sandeep Tula, Mr.Saraswati Prasad, Mr.Syedain Abbasi, Mrs.Bhagwati Mahesh Baldewa.

Company has Tej Raj & Pal as its auditors.

As on 30-06-2017, the company has a total of 3,163,890,474 shares outstanding.