NMDC share price falls 3% after Q4 results. Should you buy, sell, or hold?
NMDC share price in focus: Continuing their bearish trend for the second consecutive trading session, shares of NMDC, India’s largest iron ore producer, fell another 3% in intraday trade on Wednesday, May 28, to ₹70.65 apiece, as investor sentiment turned negative following the release of the company’s March quarter results.
The company, post market hours on Tuesday, reported a 5% rise in consolidated net profit to ₹1,483 crore for the March quarter, driven by higher iron ore and pellet sales revenue. In the same period of the previous fiscal year, the company had posted a net profit of ₹1,415 crore.
Despite a 1% YoY increase in both iron ore production and sales volumes, NMDC’s average domestic realization declined 2% YoY…
