Favourable demand-supply situation pushing up ore prices, value unlocking through demerger, high dividends and cheap valuations are key positives
With Nickel, Gold and wheat also hitting multi-year highs like Crude Oil, these five commodity related shares are likely to witness strong gains, indicate charts.
The Nifty Metal index can clock a new high, if it manages to cross and sustain above the 6,000-mark.
State-owned NMDC on Tuesday said its iron ore production surged over 28 per cent to 32.88 million tonnes (MT) in April-January 2021-22. The company's iron ore output was 25.66 MT in the same period last fiscal, NMDC said in a regulatory filing. In January 2022, the company said its iron ore production rose to 4.56 MT from 3.86 MT a year ago. Its total sales of iron ore during the April-January period increased over 25 per cent to 32.60 MT from 26.01 MT a year ago. The company sold 4.24 MT iron ore in January 2022 compared to 3.74 MT in the year-ago month. The Hyderabad-headquartered NMDC, under the Ministry of Steel, is the country's largest iron ore mining company. It is also involved in the exploration of a wide range of minerals like copper, rock phosphate, limestone, dolomite and gypsum.
Most analysts have a hold rating on the stock of India's largest iron ore mining company