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Stock Tips: NMDC’s results in the September quarter were as per expectations. Brokerage also sees strength in this stock. This is the reason why he has advised to buy it.
New Delhi. Now the season of quarterly results is going on. Brokerages are also now releasing their reports on shares after seeing the results. Navratna status PSU NMDC has also released the results for the September quarter. The results have been as per market expectations. Along with the market, brokerages also liked the NMDC figures. This is the reason why two big brokerage houses of the country, Motilal Oswal and Prabhudas Lilladher, have advised investors to invest money in this government share. Today, on Friday, October 31, NMDC shares closed at Rs 75.70 on NSE with a decline of 0.25 percent.
NMDC’s EBITDA has increased by 39% year-on-year to Rs 2,000 crore in the September quarter, but it has declined by 19% compared to the previous quarter. The company had set a production/sales target of 55 million tonnes in FY26, of which 40% has been completed in the first half. The company has set a capex of Rs 4,200 crore in the current financial year and a production target of 100 million tonnes in the next 5 years.
NMDC Share Target Price
Motilal Oswal has given a target price of Rs 88 while maintaining its ‘buy’ rating on NMDC shares. According to the brokerage house, the company delivered good results in the first half of FY26, which was supported by strong volumes and better selling prices (NSR). It is further expected that the company’s production may reach approximately 51 million tonnes in FY27 and 54 million tonnes in FY28.
Prabhudas Lilladher has also given ‘Accumulate’ (add gradually) rating to NMDC share and fixed its target price at Rs 86. The brokerage house believes that there may be a slight increase in iron ore prices from the fourth quarter of the financial year as domestic demand is expected to be better in the second half of FY26. In terms of volumes, the company targets 55 million tonnes in FY26 and wants to utilize the entire EC limit, but this target seems a bit tough.
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