BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
NMDC Ltd.’s volume outlook has strengthened further with the resumption of Donimalai mine expected by December-end.
Strong volume trend (sales of 3.3 million tonne in November 2020, up 18% YoY), coupled with strong iron ore pricing (hike of Rs 500/tonne in December 2020), should drive near-term earnings.
Resumption of the Donimalai mine should drive 11% Ebitda growth in FY22E on the back of a 18% volume growth.
The government’s proposal to levy a premium on NMDC on its mining leases has emerged as a key overhang on the stock.
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