# NMDC (NMDC) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/nmdc

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹70.4
- Change: -0.01%
- As of: 2026-11-06
- 1D return: -0.01%
- 5D return: +4.54%
- 1M return: -0.41%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

NMDC (₹70.40) exhibits a mixed technical posture as of November 6, 2026. On the daily chart, price is positioned above the 20-period EMA and SMA but remains below the 50-period EMA, 200-period SMA, and Supertrend, which signals a bearish bias despite short-term support. The daily ADX of 41.23 indicates strong trend conviction, yet recent anomalies show high participation without clear directional follow-through. Monthly and weekly structures are uniformly bearish, with price trading below all major moving averages and the Supertrend on those timeframes. The stock is down -15.8% YTD and -21.1% over six months, currently sitting 26.7% below its available high. Immediate resistance lies at ₹70.56 (pivot), while support is found at ₹69.85. A break above ₹71.12 would be required to challenge the near-term downtrend structure.

- Trend Divergence: Daily price holds above 20-period EMAs/SMA but remains below longer-term averages (50/200 SMA) and Supertrend; monthly and weekly trends are strictly bearish.
- Momentum & Strength: Daily ADX stands at 41.23 (strong), but recent high-participation events lack clear directional confirmation, suggesting indecision.
- Key Levels: Resistance at ₹70.56 (pivot) and ₹71.12 (high); Support at ₹69.85 (low).
- Risk Profile: Current drawdown is -26.7% from available highs; annualized volatility is +30.3%.

- Bullish Engulfing Reversal
- Outside Bar
- Morning Star
- Inside Bar

### News Context

NMDC reported an 18% year-on-year increase in October iron ore production to 5.04 million tonnes, while sales declined 11% to 3.44 million tonnes. This divergence is attributed to monsoon-induced disruptions on the Kottavalasa–Kirandul railway line, which temporarily halted evacuations from the Bailadila mines. The company anticipates a recovery in dispatches once rail connectivity is restored, supporting its long-term targets of 60 MT production for the current fiscal year and a 100 MT entity status by 2030.

Separately, activists have urged the Supreme Court-appointed Monitoring Committee to conduct an independent study on the environmental, agricultural, and public health impacts of mining in Karnataka’s Ballari, Chitradurga, and Vijayanagara districts. Specific concerns were raised regarding NMDC's Kumaraswamy Iron Ore Mine, citing inadequate infrastructure and heavy truck traffic, as well as a proposed conveyor system that has remained non-operational for four years.

- October production rose 18% YoY to 5.04 million tonnes, contrasting with an 11% sales decline to 3.44 million tonnes due to rain-related rail disruptions.
- NMDC expects sales recovery upon restoration of rail connectivity from Bailadila mines, aligning with FY targets of 60 MT and a 2030 goal of 100 MT.
- Activists are seeking an independent study on mining impacts in Karnataka, highlighting ecological damage and health risks linked to NMDC's Kumaraswamy mine.
- The Kumaraswamy mine faces scrutiny over a proposed conveyor system that has been non-operational for four years.

- [NMDC’s iron ore output rose 18% in Oct, sales dip amid rain impact](https://www.thehindu.com/business/Economy/nmdcs-iron-ore-output-rose-18-in-oct-sales-dip-amid-rain-impact/article71661810.ece)
- [Activists Seek Study Of Mining Impact On Environment, Farming And Public Health](https://www.deccanchronicle.com/southern-states/karnataka/activists-seek-study-of-mining-impact-on-environment-farming-and-public-health-2001439)

### What Changed

NMDC has scheduled a Board Meeting for 12 November 2026, following an intimation filed with the NSE on 5 November 2026. The primary agenda is to consider and approve the Unaudited Financial Results for the quarter ended September 2026. This filing marks the next step in the company’s quarterly reporting cycle, moving from administrative notice to substantive financial disclosure. No other news developments or technical changes were reported alongside this filing.

- Board Meeting Date: 12-Nov-2026
- Filing Date: 05-Nov-2026 (NSE)
- Agenda: Approval of Unaudited Financial Results for Q ended Sep-2026

- [Board Meeting Intimation |Meeting Date: 12-Nov-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2729_WebXMLFile_20261105_172659476.xml)
- [NMDC LIMITED has informed the Exchange about Board Meeting to be held on 12-Nov-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Quarterly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2729_WebXMLFile_20261105_172659476.xml)

### Official Filings

NMDC Limited has disclosed operational performance for October 2026 and governance changes affecting its board composition. Provisional data indicates that in October, the company produced 5.04 million tonnes of iron ore and sold 4.27 million tonnes. Cumulatively up to October 2026, production stood at 32.32 million tonnes against sales of 26.47 million tonnes. On the governance front, Ms Sarita Chauhan was appointed as a Non-Executive Government Director effective October 12, 2026. Additionally, the shareholding pattern as of September 30, 2026, shows promoter and promoter group holding at 60.79%, with the public holding 39.21%. The Board is scheduled to meet on November 12, 2026, to approve unaudited financial results for the quarter ended September 2026, during which time insider trading windows are closed.

- October 2026 Iron Ore Sales: 4.27 million tonnes (Production: 5.04 million tonnes); Chhattisgarh contributed 3.06 million tonnes sold vs 3.36 million tonnes produced, while Karnataka contributed 1.21 million tonnes sold vs 1.68 million tonnes produced.
- Cumulative Performance (Jan-Oct 2026): Total production reached 32.32 million tonnes and total sales reached 26.47 million tonnes.
- Board Composition Change: Ms Sarita Chauhan appointed as Non-Executive Government Director w.e.f. October 12, 2026.
- Shareholding Structure (as of 30-Sep-2026): Promoter & Promoter Group hold 60.79%; Public holds 39.21%.

- [Financial Results |Meeting Date: 12-Nov-2026](https://nsearchives.nseindia.com/corporate/NMDC_05112026154032_NMDCBMintimation05112026.pdf)
- [Board Meeting Intimation |Meeting Date: 12-Nov-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2729_WebXMLFile_20261105_172659476.xml)
- [NMDC LIMITED has informed the Exchange about Board Meeting to be held on 12-Nov-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Quarterly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2729_WebXMLFile_20261105_172659476.xml)
- [Details of Production & Sales of Iron Ore (Provisional) for and upto October, 2026. |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/NMDC_02112026162451_NMDC_ProductionSalesOct2026.pdf)
- [AS ON DATE : 30-Sep-2026 | PR_AND_PRGRP: 60.79 | PUBLIC_VAL: 39.21 | EMPTR: 0 | NDS_REVISED_STATUS: - | SUBMISSION_DT: 15-Oct-2026 | REVISION_DT: -](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1738864_15102026035331_WEB.xml)
- [NMDC Limited has informed the Exchange regarding Change in Director(s) of the company. |SUBJECT: Change in Director(s)](https://nsearchives.nseindia.com/corporate/NMDC_13102026185915_NMDC_SE13102026.pdf)
- [NMDC Limited has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_2729_WebXMLFile_20261013_191354449.xml)
- [NMDC Limited has informed the Exchange regarding Appointment of Ms Sarita Chauhan as Non- Executive - Government Director of the company w.e.f. October 12, 2026. |SUBJECT: Appointment](https://nsearchives.nseindia.com/corporate/NMDC_13102026193435_NMDC_13102026.pdf)
- [Compliance Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30th September, 2026. |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/NMDC_06102026144916_NMD_Compliance_certificate_06102026.pdf)
- [SERIES:EQ |PURPOSE:DIVIDEND - RE 1 PER SHARE |FACE VALUE:1 |RECORD DATE:05-Oct-2026 |BOOK CLOSURE START DATE:- |BOOK CLOSURE END DATE:-](https://www.nseindia.com/companies-listing/corporate-filings-actions)

### Fundamentals

NMDC’s latest quarterly results for Q1 FY2026-27 show a sequential decline in top and bottom lines compared to Q4 FY2025-26. Revenue from operations fell to ₹6,795.25 crore from ₹11,343.13 crore, while net profit decreased slightly to ₹1,976.33 crore from ₹2,027.23 crore. Despite this quarterly dip, the company maintains strong annual growth momentum, with TTM sales reaching ₹32,127 crore and TTM net profit at ₹7,459 crore. Profitability metrics remain robust, evidenced by a 3-year compounded sales growth of 22% and a Return on Equity of 23% for the last year.

Financial health indicators present a mixed picture. While interest costs have improved significantly—dropping to ₹116 crore (TTM) from ₹178 crore (FY2025)—borrowings have risen sharply to ₹6,407 crore as of Mar 2026, correlating with a substantial increase in Capital Work in Progress (CWIP) to ₹6,749 crore. This suggests ongoing capital expansion funded by debt. However, cash conversion quality has deteriorated; the Cash Conversion Cycle widened to 247 days as of Mar 2026, driven largely by Inventory Days rising to 170 days. Shareholding patterns remain stable, with promoters holding 60.79% and FIIs increasing their stake to 14.91% as of Sep 2026.

- Q1 FY2026-27 revenue declined sequentially to ₹6,795.25 crore from ₹11,343.13 crore in Q4 FY2025-26, though TTM sales grew to ₹32,127 crore.
- Net profit remained resilient at ₹1,976.33 crore in Q1 FY2026-27, supporting a TTM net profit of ₹7,459 crore and a 3-year ROE of 23%.
- Borrowings increased to ₹6,407 crore (Mar 2026) alongside CWIP growth to ₹6,749 crore, indicating active capital expenditure funded by debt.
- Cash efficiency weakened materially, with the Cash Conversion Cycle expanding to 247 days (Mar 2026) due to Inventory Days rising to 170 days.

### Bear Case

NMDC faces near-term operational headwinds and a deteriorating technical setup. In October, iron ore sales declined 11% to 3.44 million tonnes despite an 18% production rise, as monsoon disruptions halted rail connectivity on the Kottavalasa–Kirandul line. Concurrently, activist groups have petitioned the Supreme Court-appointed Monitoring Committee to investigate environmental and health impacts at NMDC’s Kumaraswamy Iron Ore Mine in Karnataka, where critical infrastructure has been non-operational for four years. On the market front, the stock is trading at ₹70.4 with a bearish supertrend across daily, weekly, and monthly timeframes. The share price has fallen 21.1% over six months and 15.8% year-to-date, currently sitting 26.7% below its recent peak. High volatility of 30.3% annualized underscores significant downside risk.

- October sales fell 11% to 3.44 million tonnes due to rain-induced rail disruptions, contrasting with an 18% production increase to 5.04 million tonnes.
- Activists are seeking independent studies into environmental and health impacts at the Kumaraswamy mine, citing ecological damage and non-operational conveyor systems.
- Technical indicators show a bearish trend across all timeframes; the stock is down 21.1% over six months and 15.8% year-to-date.
- The stock trades at ₹70.4 with a current drawdown of -26.7% and high annualized volatility of +30.3%.

- [NMDC’s iron ore output rose 18% in Oct, sales dip amid rain impact](https://www.thehindu.com/business/Economy/nmdcs-iron-ore-output-rose-18-in-oct-sales-dip-amid-rain-impact/article71661810.ece)
- [Activists Seek Study Of Mining Impact On Environment, Farming And Public Health](https://www.deccanchronicle.com/southern-states/karnataka/activists-seek-study-of-mining-impact-on-environment-farming-and-public-health-2001439)
- [Financial Results |Meeting Date: 12-Nov-2026](https://nsearchives.nseindia.com/corporate/NMDC_05112026154032_NMDCBMintimation05112026.pdf)
- [Board Meeting Intimation |Meeting Date: 12-Nov-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2729_WebXMLFile_20261105_172659476.xml)
- [NMDC LIMITED has informed the Exchange about Board Meeting to be held on 12-Nov-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Quarterly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2729_WebXMLFile_20261105_172659476.xml)
- [Details of Production & Sales of Iron Ore (Provisional) for and upto October, 2026. |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/NMDC_02112026162451_NMDC_ProductionSalesOct2026.pdf)
- [AS ON DATE : 30-Sep-2026 | PR_AND_PRGRP: 60.79 | PUBLIC_VAL: 39.21 | EMPTR: 0 | NDS_REVISED_STATUS: - | SUBMISSION_DT: 15-Oct-2026 | REVISION_DT: -](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1738864_15102026035331_WEB.xml)
- [NMDC Limited has informed the Exchange regarding Change in Director(s) of the company. |SUBJECT: Change in Director(s)](https://nsearchives.nseindia.com/corporate/NMDC_13102026185915_NMDC_SE13102026.pdf)
- [NMDC Limited has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_2729_WebXMLFile_20261013_191354449.xml)
- [NMDC Limited has informed the Exchange regarding Appointment of Ms Sarita Chauhan as Non- Executive - Government Director of the company w.e.f. October 12, 2026. |SUBJECT: Appointment](https://nsearchives.nseindia.com/corporate/NMDC_13102026193435_NMDC_13102026.pdf)

### FAQs

**How did NMDC's production and sales performance differ in October 2026?**

In October 2026, NMDC reported an 18% year-on-year increase in iron ore production to 5.04 million tonnes. However, sales declined by 11% to 3.44 million tonnes. The company attributed the sales drop to monsoon-induced disruptions on the Kottavalasa–Kirandul railway line, which temporarily halted evacuations from its Bailadila mines.

**What is NMDC's current production trajectory and long-term target?**

Cumulative production up to October 2026 reached 32.32 million tonnes against cumulative sales of 26.47 million tonnes. The company is pursuing a long-term target of 60 MT production for the current fiscal year and aims to become a 100 MT mining entity by 2030.

**When will NMDC release its financial results for the quarter ended September 2026?**

NMDC’s Board of Directors is scheduled to meet on 12 November 2026 to consider and approve the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026. The trading window for insiders remains closed until 14 November 2026.

**What are the key technical price levels for NMDC as of 6 November 2026?**

As of 6 November 2026, NMDC closed at ₹70.40 with a market capitalization of approximately ₹61,903 crore. Technical indicators show a bearish trend across daily, weekly, and monthly timeframes. Immediate resistance is noted at ₹70.56 (pivot) and ₹71.12 (high), while support levels exist at ₹69.85 and ₹69.29.

- [NMDC’s iron ore output rose 18% in Oct, sales dip amid rain impact](https://www.thehindu.com/business/Economy/nmdcs-iron-ore-output-rose-18-in-oct-sales-dip-amid-rain-impact/article71661810.ece)
- [Activists Seek Study Of Mining Impact On Environment, Farming And Public Health](https://www.deccanchronicle.com/southern-states/karnataka/activists-seek-study-of-mining-impact-on-environment-farming-and-public-health-2001439)
- [Financial Results |Meeting Date: 12-Nov-2026](https://nsearchives.nseindia.com/corporate/NMDC_05112026154032_NMDCBMintimation05112026.pdf)
- [Board Meeting Intimation |Meeting Date: 12-Nov-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2729_WebXMLFile_20261105_172659476.xml)
- [NMDC LIMITED has informed the Exchange about Board Meeting to be held on 12-Nov-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Quarterly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2729_WebXMLFile_20261105_172659476.xml)
- [Details of Production & Sales of Iron Ore (Provisional) for and upto October, 2026. |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/NMDC_02112026162451_NMDC_ProductionSalesOct2026.pdf)
- [AS ON DATE : 30-Sep-2026 | PR_AND_PRGRP: 60.79 | PUBLIC_VAL: 39.21 | EMPTR: 0 | NDS_REVISED_STATUS: - | SUBMISSION_DT: 15-Oct-2026 | REVISION_DT: -](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1738864_15102026035331_WEB.xml)
- [NMDC Limited has informed the Exchange regarding Change in Director(s) of the company. |SUBJECT: Change in Director(s)](https://nsearchives.nseindia.com/corporate/NMDC_13102026185915_NMDC_SE13102026.pdf)
- [NMDC Limited has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_2729_WebXMLFile_20261013_191354449.xml)
- [NMDC Limited has informed the Exchange regarding Appointment of Ms Sarita Chauhan as Non- Executive - Government Director of the company w.e.f. October 12, 2026. |SUBJECT: Appointment](https://nsearchives.nseindia.com/corporate/NMDC_13102026193435_NMDC_13102026.pdf)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Weak Uptrend
- Weekly trend: Moderate Downtrend
- Pivot point: ₹70.56
- Risk regime: Price Risk Requires Attention

### Support levels
- 64.725
- 63.3125
- 62

### Resistance levels
- 72.43
- 72.46744140625
- 75.91609374999999

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | -0.01% |
| return_10 | +6.10% |
| return_1m | -5.35% |
| return_1y | -3.72% |
| return_20 | -0.41% |
| return_3m | -18.33% |
| return_5 | +4.54% |
| return_6m | -21.06% |
| return_since_start | +6.70% |
| return_ytd | -15.85% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | elevated_risk |
| label | Price risk requires attention |
| summary | Recent drawdown or price variability is high enough to warrant closer monitoring. |
| maximum_drawdown | -30.91% |
| annualized_volatility | +30.31% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Year-over-Year Earnings Hold Steady; Sequential Revenue Drop Mirrors Prior Fiscal’s Q1 Slump

NMDC Limited’s first quarter of fiscal 2027 delivered revenue of ₹6,795.25 crore and net profit from continuing operations of ₹2,005.84 crore, representing marginal increases of 0.84% and 1.95%, respectively, compared to the same period last year. The steep 40% sequential decline in revenue from the fourth quarter of fiscal 2026 closely tracks the large gap between the fourth and first quarters seen in the previous fiscal year, while a lower tax burden left the bottom line nearly unchanged from the preceding quarter.

## Revenue and Profitability

Revenue from operations stood at ₹6,795.25 crore in Q1 FY27, up from ₹6,738.86 crore a year ago. Profit before tax grew 1.83% to ₹2,691.09 crore, and profit from continuing operations rose to ₹2,005.84 crore from ₹1,967.52 crore. The year‑on‑year changes were minimal, indicating that the core earnings power of the business remained essentially flat.

Sequentially, revenue fell 40.1% from ₹11,343.13 crore in Q4 FY26. That fourth quarter was an exceptionally high-revenue period: it exceeded the next highest quarter of the preceding fiscal (Q3, at ₹7,610.79 crore) by about 49%, and was roughly 68% higher than the first quarter of that same fiscal. The current quarter’s revenue, although markedly lower, therefore resembles the Q1 level observed in the prior fiscal year rather than signalling a broad deterioration. Profit before tax declined only 6.3% sequentially, and net profit from continuing operations edged down by just 0.6%, as a sharp reduction in tax expense cushioned the bottom line.

Finance costs were ₹21.61 crore in the quarter, down from ₹51.41 crore in Q4 FY26 and modestly lower than the ₹27.15 crore recorded in the year‑ago quarter.

## Tax and Profit Composition

Tax expense totalled ₹685.25 crore in Q1 FY27, a 19.9% sequential decline from ₹855.08 crore and a modest 1.5% increase from ₹675.31 crore a year earlier. The sequential drop was influenced by a swing in deferred tax: a charge of ₹139.82 crore in Q4 FY26 turned into a credit of ₹64.53 crore in the current quarter, while current tax rose 4.8% sequentially to ₹749.78 crore. On a year‑over‑year basis, current tax increased 9.4%.

The effective tax rate (tax expense divided by profit before tax) was 25.5% in Q1 FY27, in line with the 25.6% recorded in Q1 FY26, and down sharply from 29.8% in Q4 FY26, when the deferred tax charge had pushed the rate upward. Consequently, net profit from continuing operations was nearly stable at ₹2,005.84 crore, only ₹11.93 crore lower than the ₹2,017.77 crore reported in the prior quarter, despite the ₹4,548 crore drop in revenue.

## Inter-Segment Revenue

Inter‑segment revenue surged to ₹294.62 crore in Q1 FY27, up 68% from ₹175.56 crore in the fourth quarter and more than eightfold compared with ₹34.05 crore in Q1 FY26. The sharp increase points to rising internal sales, although their contribution to total revenue remains small.

## Share Capital and Earnings Per Share

Paid‑up equity share capital was ₹879.18 crore, unchanged from the previous three quarters but significantly lower than the ₹1,953.26 crore reported in Q1 FY26. Over the same period, the face value per share increased from ₹0.32 to ₹1, suggesting a share consolidation during the previous fiscal year. Despite the change in the capital structure, basic earnings per share from continuing operations remained comparable at ₹2.25 for the quarter, compared with ₹2.24 a year ago.

## Management Commentary

NMDC reported a record Q1 FY27, with iron ore production jumping 26% YoY to 151.17 LT and sales rising 2% to 117.30 LT. Average domestic realisation improved 4% to ₹5,548 per tonne, supporting revenue from operations of ₹6,795 crore and PAT of ₹2,007 crore, both up about 2% YoY.

Management expressed confidence in recovering large outstanding receivables from RINL and NMDC Steel, citing government-backed revival plans, lender support and NSL's scaled-up operations; expected credit losses were recognised for time value. Growth is being driven by NMDC-CMDC's Deposit-13 and Deposit-4 projects, with initial mining at Deposit-13 having commenced in July 2026. Key overhangs include the pending Karnataka mineral tax bill and sub-judice regulatory demands.

## Key Takeaway

NMDC’s first‑quarter results show a business that produced earnings almost identical to those of the year‑earlier period. The steep sequential revenue drop was partly offset by a much lower tax expense, leaving net profit virtually unchanged from the prior quarter. The surge in inter‑segment revenue, while notable, did not materially alter the overall earnings picture. The share consolidation appears to have been executed without distorting per‑share profitability.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q2
- As of: 2026-09-30
- Promoter holding: +60.79%
- FII holding: +14.91%
- DII holding: +12.51%
- Mutual fund holding: +6.65%
- Retail holding: +8.48%
- Promoter pledged: +0.00%

### Major reported shareholders

- PRESIDENT OF INDIA — +60.79%
- LIFE INSURANCE CORPORATION OF INDIA - P & GS Fund — +3.73%
- SBI QUANT FUND — +1.27%

## Official filings

- 2026-11-05 — Board Meeting Notice: NMDC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NMDC_05112026154032_NMDCBMintimation05112026.pdf)
- 2026-11-05 — Board Meeting Notice: NMDC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2729_WebXMLFile_20261105_172659476.xml)
- 2026-11-05 — Generic Announcement: NMDC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2729_WebXMLFile_20261105_172659476.xml)
- 2026-11-02 — Generic Announcement: NMDC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NMDC_02112026162451_NMDC_ProductionSalesOct2026.pdf)
- 2026-10-15 — Shareholding Disclosure: NMDC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1738864_15102026035331_WEB.xml)
- 2026-10-13 — Generic Announcement: NMDC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NMDC_13102026185915_NMDC_SE13102026.pdf)
- 2026-10-13 — Generic Announcement: NMDC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_2729_WebXMLFile_20261013_191354449.xml)
- 2026-10-13 — Management Change: NMDC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NMDC_13102026193435_NMDC_13102026.pdf)
- 2026-10-06 — Generic Announcement: NMDC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NMDC_06102026144916_NMD_Compliance_certificate_06102026.pdf)
- 2026-10-05 — Corporate Action Notice: NMDC Limited - Ex-Date: 05-Oct-2026 — [Official attachment](https://www.nseindia.com/companies-listing/corporate-filings-actions)
- 2026-10-05 — Corporate Action Notice: NMDC Limited - Ex-Date: 05-Oct-2026 — [Official attachment](https://www.nseindia.com/companies-listing/corporate-filings-actions)
- 2026-10-05 — Corporate Action Notice: NMDC Limited - Ex-Date: 05-Oct-2026 — [Official attachment](https://www.nseindia.com/companies-listing/corporate-filings-actions)
- 2026-10-01 — Generic Announcement: NMDC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NMDC_01102026165300_NMDC_Prod_and_Sales_01102026.pdf)
- 2026-09-30 — Generic Announcement: NMDC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NMDC_30092026171937_Voting_Results_30092026.pdf)
- 2026-09-29 — Generic Announcement: NMDC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_2729_WebXMLFile_20260929_133433038.xml)
- 2026-09-29 — Generic Announcement: NMDC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NMDC_29092026151436_TW_29092026.pdf)
- 2026-09-28 — Generic Announcement: NMDC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NMDC_28092026193806_Proceeding_28092026.pdf)
- 2026-09-27 — Generic Announcement: NMDC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NMDC_27092026161957_Press_Release_27092026.pdf)
- 2026-09-18 — Generic Announcement: NMDC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NMDC_18092026215542_NMDCSE18092026.pdf)
- 2026-09-09 — Generic Announcement: NMDC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NMDC_09092026074636_NMDC_ironoreprices09092026.pdf)
- 2026-09-08 — Generic Announcement: NMDC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NMDC_08092026140743_SEA202627043_Special_window-signed.pdf)
- 2026-09-08 — Generic Announcement: NMDC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NMDC_08092026204016_NMDCSEchangeinAuditors.pdf)
- 2026-09-07 — Generic Announcement: NMDC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NMDC_07092026171022_NMDCSENewspaper07092026.pdf)
- 2026-09-07 — Generic Announcement: NMDC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NMDC_07092026174024_NMDCSENewspaper07092026.pdf)
- 2026-09-06 — Generic Announcement: NMDC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/NOTICE_OF_SHAREHOLDERS_MEETINGS_2729_WebXMLFile_20260906_231643129.xml)

## News and market events

- 2026-11-07 — Times of India: **NMDC auctions 2,050 carats of Panna diamonds, top stone fetches Rs 57 lakh** — State-owned miner NMDC Ltd auctioned 2,050 carats of gem-quality diamonds from its Panna mine in Madhya Pradesh, realizing approximately Rs 6.7 crore with the highest bid of Rs 57 lakh for an 8.12-carat stone. The sale attracted about 60 buyers primarily from Mumbai and Surat, reflecting continued demand from India’s key diamond trading centers. This transaction underscores the ongoing commercial activity at Asia’s largest mechanized diamond mine, which produced around 8,000 carats between April and October 2026. — [Source](https://timesofindia.indiatimes.com/city/hyderabad/nmdc-auctions-2050-carats-of-panna-diamonds-top-stone-fetches-rs-57-lakh/articleshow/135635546.cms)
- 2026-11-03 — The Hindu: **NMDC’s iron ore output rose 18% in Oct, sales dip amid rain impact** — State-owned NMDC reported an 18% year-on-year increase in October iron ore production to 5.04 million tonnes, contrasting with an 11% sales decline to 3.44 million tonnes caused by monsoon-induced disruptions on the Kottavalasa–Kirandul railway line. The company anticipates a recovery in dispatches and sales once rail connectivity is fully restored following the temporary evacuation halt from its Bailadila mines. This operational update comes as NMDC pursues long-term targets of 60 MT production for the current fiscal year and aims to become a 100 MT mining entity by 2030. — [Source](https://www.thehindu.com/business/Economy/nmdcs-iron-ore-output-rose-18-in-oct-sales-dip-amid-rain-impact/article71661810.ece)
- 2026-11-03 — DECCANCHRONICLE.COM: **Activists Seek Study Of Mining Impact On Environment, Farming And Public Health** — The Mining-Affected Environment and People's Livelihoods Restoration Struggle Committee has urged the Supreme Court-appointed Monitoring Committee to conduct an independent study on the cumulative environmental, agricultural, and public health impacts of iron ore mining in Karnataka’s Ballari, Chitradurga, and Vijayanagara districts. The activists allege that inadequate infrastructure and heavy truck traffic have caused significant ecological damage and health risks, particularly at NMDC's Kumaraswamy Iron Ore Mine, where a proposed conveyor system has been non-operational for four years. Cons — [Source](https://www.deccanchronicle.com/southern-states/karnataka/activists-seek-study-of-mining-impact-on-environment-farming-and-public-health-2001439)
- 2026-10-25 — Economic Times: **NMDC's Global Mining Diversification Plan: Targeting Critical Minerals Across Continents** — State-owned NMDC aims to diversify its mineral portfolio by scouting mining assets in South America, Australia, Africa, Brazil, and Asia to meet future industrial demands. — [Source](https://economictimes.indiatimes.com/industry/indl-goods/svs/metals-mining/diversification-plan-nmdc-scouts-for-mining-assets-across-four-continents/articleshow/135184622.cms)
- 2026-10-25 — The Hindu: **NMDC scouts for mining assets across four continents** — NMDC scouts global mining assets, targeting lithium, copper, cobalt, rare earths and more across four continents to diversify beyond iron ore. — [Source](https://www.thehindubusinessline.com/companies/nmdc-scouts-for-mining-assets-across-four-continents/article71622642.ece)
- 2026-10-21 — BUSINESS: **Midcap 100, Smallcap 100 index down 1%; MRF, Biocon, Swiggy at 52-week lows** — Yes Bank, PI Industries, MRF, Swiggy, Biocon, NMDC, Tube Investments of India, Vishal Mega Mart, Voltas and Max Financial Services from the Midcap 100 index hitting their respective 52-week lows. — [Source](https://www.business-standard.com/markets/news/midcap-100-smallcap-100-index-down-1-mrf-biocon-swiggy-at-52-week-lows-126102100269_1.html)
- 2026-10-19 — MONEYCONTROL: **NMDC puts nickel plans on hold as Indonesia's supply glut clouds global market outlook** — NMDC nickel plans, NMDC nickel foray on hold, Indonesia nickel oversupply, global nickel surplus, NMDC critical minerals, India nickel imports, NMDC Russian nickel assets, Nornickel, International Nickel Study Group, nickel supply outlook — [Source](https://www.moneycontrol.com/news/business/nmdc-puts-nickel-plans-on-hold-as-indonesia-s-supply-glut-clouds-global-market-outlook-14055617.html)
- 2026-10-19 — Economic Times: **NMDC puts nickel foray on hold on global oversupply concerns, sources say** — State-run NMDC has paused its planned entry into nickel, citing oversupply concerns in Indonesia, which accounts for more than 60% of global production. The decision comes as the global market is expected to remain in surplus through 2026. NMDC had also explored Russian nickel assets and supply arrangements with Nornickel. — [Source](https://economictimes.indiatimes.com/industry/indl-goods/svs/metals-mining/nmdc-puts-nickel-foray-on-hold-on-global-oversupply-concerns-sources-say/articleshow/135046364.cms)
- 2026-10-17 — The Hindu: **NMDC inks pact with GAIL arm to secure natural gas supplies for 2 MT pellet plant** — State-owned NMDC has entered into an agreement with GAIL Gas to secure natural gas supplies for its iron ore pellet plant in Chhattisgarh’s Nagarnar. — [Source](https://www.thehindu.com/business/nmdc-inks-pact-with-gail-arm-to-secure-natural-gas-supplies-for-2-mt-pellet-plant/article71597144.ece)
- 2026-10-08 — Mint: **Dividend powerhouse: Coal India, ITC, REC, NMDC, Aptech, Radiant Cash - Which stock is real dividend multiplier? Details** — Coal India, ITC, REC, NMDC, Aptech, Radiant Cash are among the top companies with constantly rising dividend yield over last three financial years. Among them, NMDC posted the strongest dividend yield growth, at 52% from FY24 to FY26. Check details — [Source](https://www.livemint.com/market/stock-market-news/dividend-powerhouse-coal-india-itc-rec-nmdc-aptech-radiant-cash-which-stock-is-real-dividend-multiplier-details-11791451035317.html)
- 2026-10-08 — BUSINESSTODAY: **Vedanta, VAML, Tata Steel, NMDC, JSPL, Gravita: Q2 results preview, share price targets** — Vedata share price target, VAML share price target, Tata Steel share price target, Q2 results preview — [Source](https://www.businesstoday.in/markets/stocks/story/vedanta-vaml-tata-steel-nmdc-jspl-gravita-q2-results-preview-share-price-targets-560352-2026-10-08)
- 2026-10-01 — Mint: **Dividend record date: Last chance to buy today NMDC to qualify for Navratna PSU payout- check yield, stock performance** — NMDC Limited's shares are likely to draw investors' interest as the dividend record date approaches. With a 100% dividend for FY26 set for October 5, investors must buy by October 1 to qualify.  — [Source](https://www.livemint.com/market/stock-market-news/dividend-record-date-last-chance-to-buy-today-nmdc-to-qualify-for-navratna-psu-payout-check-yield-stock-performance-11790824249448.html)
- 2026-09-29 — BUSINESSTODAY: **In Mining, Predictability Is Becoming Investible Infrastructure** — In Mining, Predictability Is Becoming Investible Infrastructure — [Source](https://www.businesstoday.in/impact-feature/story/in-mining-predictability-is-becoming-investible-infrastructure-558551-2026-09-29)
- 2026-09-29 — Mint: **Nifty Metal slips 5% in September post 29% 1 yr rally, October comeback ahead? Hindustan Zinc, NMDC, NALCO may shine** — Nifty Metal has dropped nearly 5% in the past month, with notable declines from companies like NALCO and Vedanta. Experts suggest October may be more stock-specific rather than a broad rally — [Source](https://www.livemint.com/market/stock-market-news/nifty-metal-slips-5-in-september-post-29-1-yr-rally-october-comeback-ahead-hindustan-zinc-nmdc-nalco-may-shine-11790662544556.html)
- 2026-09-28 — The Hindu: **NMDC commissions 2 MTPA pellet plant in Nagarnar** — NMDC commissions a 2 MTPA pellet plant at Nagarnar, boosting its integrated iron ore processing and expanding toward 100 MTPA capacity. — [Source](https://www.thehindu.com/business/Industry/nmdc-commissions-2-mtpa-pellet-plant-in-nagarnar/article71519961.ece)
- 2026-09-28 — The Hindu: **NMDC commissions ₹5,427 crore iron ore processing complex in Chhattisgarh; stock slides 2%** — The commissioned project comprises three components: a new iron ore processing plant at Bacheli, a 135-kilometre, 15 MTPA slurry pipeline, and the 2 MTPA pellet plant at Nagarnar. — [Source](https://www.thehindubusinessline.com/markets/stock-markets/nmdc-commissions-5427-crore-iron-ore-processing-complex-in-chhattisgarh-stock-slides-2/article71519073.ece)
- 2026-09-28 — The Hindu: **Two dozen stocks, including NMDC, Adani Power, NTPC Green, Sedemac, Aditya Infotech, TVS Motor, Chemplast, will remain in focus on Monday** — Stocks in focus Monday: NMDC, NTPC Green, Adani Power, TVS Motor, with updates from iron ore and energy, manufacturing launches, and regulatory moves — [Source](https://www.thehindubusinessline.com/markets/two-dozen-stocks-including-nmdc-adani-power-ntpc-green-sedemac-aditya-infotech-tvs-motor-chemplast-will-remain-in-focus-on-monday/article71518148.ece)
- 2026-09-28 — Times of India: **NMDC commissions Rs 5.4k cr integrated project in Chhattisgarh** — HYDERABAD: State-run miner NMDC Ltd has commissioned a Rs 5,427-crore integrated iron ore processing, slurry pipeline and pellet-making project in — [Source](https://timesofindia.indiatimes.com/business/india-business/nmdc-commissions-rs-5-4k-cr-integrated-project-in-chhattisgarh/articleshow/134528902.cms)
- 2026-09-27 — CNBC-TV18: **Stocks to watch for September 28: SAIL, Adani Power, Rashtriya Chemicals and more** — From Adani Power completing the merger of 10 wholly owned subsidiaries with the company to Prestige Hospitality Ventures withdrawing its Draft Red Herring Prospectus filed with SEBI, these are the stocks to track ahead of Monday’s trading session. — [Source](https://www.cnbctv18.com/photos/market/stocks-to-watch-for-september-28-sail-adani-power-rashtriya-chemicals-and-more-19998897.htm)
- 2026-09-26 — MONEYCONTROL: **How a 95-km railway line is opening up Chhattisgarh's former Maoist strongholds** — Dallirajhara Rowghat railway project, Rowghat railway line, Bastar railway connectivity, Chhattisgarh railways, Naxal affected areas railway, Maoist stronghold Bastar, Dallirajhara Rowghat rail line, Indian Railways Bastar, Rowghat railway project, Bastar development, Naxal areas infrastructure, SSB railway security, Jagdalpur railway project, Chhattisgarh railway projects, Rowghat iron ore — [Source](https://www.moneycontrol.com/news/business/how-a-95-km-railway-line-is-opening-up-chhattisgarh-s-former-maoist-strongholds-14038862.html)
- 2026-09-25 — Mint: **Upcoming dividend stocks: SAIL, IGL, NMDC among 3 PSU stocks with record dates ahead- Check yield, ROE, stock return** — Three public sector undertakings: SAIL, IGL, and NMDC, are set to pay dividends by the end of September and October. Investors need to hold the stocks before record dates to qualify for payouts. SAIL offers ₹2.35 per share, IGL ₹1.50, and NMDC Re 1. — [Source](https://www.livemint.com/market/stock-market-news/upcoming-dividend-stocks-sail-igl-nmdc-among-3-psu-stocks-with-record-dates-ahead-check-yield-roe-stock-return-11790330679880.html)
- 2026-09-23 — BUSINESS: **NMDC Ltd soars 2.02%, up for third straight session** — NMDC Ltd is quoting at Rs 81.82, up 2.02% on the day as on 12:49 IST on the NSE. The stock is up 5.98% in last one year as compared to a 6.43% fall in NIFTY and a 31.34% fall in the Nifty Metal index. — [Source](https://www.business-standard.com/markets/capital-market-news/nmdc-ltd-soars-2-02-up-for-third-straight-session-126092300622_1.html)
- 2026-09-21 — Economic Times: **NMDC shares rally 2% after company sets target to achieve net-zero operational emissions by 2047** — NMDC shares rallied up to 2% on Monday to Rs 80.85 after setting a target to achieve net-zero operational emissions by 2047. Covering Scope 1 and Scope 2 emissions, the roadmap spans three phases focusing on renewable energy, fleet electrification, energy efficiency, and low-carbon logistics to reduce operational emissions by 90%. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/nmdc-shares-rally-2-after-company-sets-target-to-achieve-net-zero-operational-emissions-by-2047/articleshow/134382521.cms)
- 2026-09-21 — Mint: **Xi Jinping US visit: Trump to weigh on rare-earth magnet | Experts bet high on Vedanta, GMDC, Ather Energy, other stocks** — Xi Jinping US visit: Experts believe Donald Trump may weigh on the rare-earth magnet exports to the US — [Source](https://www.livemint.com/market/stock-market-news/xi-jinping-us-visit-trump-to-weigh-on-rare-earth-magnet-experts-bet-high-on-vedanta-gmdc-ather-energy-other-stocks-11789959864197.html)
- 2026-09-20 — Mint: **Top stocks in focus tomorrow: Mazagon Dock, RVNL, Nestle India shares to move Sensex, Nifty? Monday, 21 Sept | Triggers** — Mazagon Dock, Rail Vikas Nigam (RVNL), Kalyan Jewellers, Welspun Enterprises, JSW Energy, Nestle India, GR Infraprojects are among the stocks likely to remain in focus. — [Source](https://www.livemint.com/market/stock-market-news/top-stocks-in-focus-tomorrow-mazagon-dock-rvnl-nestle-india-shares-to-move-sensex-nifty-monday-21-sept-triggers-11789897835796.html)

## Business profile

**Strategic vision:** Mines and produces iron ore and diversifies into critical minerals.

### Business segments
- **Iron Ore Mining:** Operates three fully mechanized iron ore mines and is a predominant supplier in the Indian iron ore market.
- **Critical and Rare Earth Minerals:** Diversifying into critical and rare earth minerals, actively exploring new mineral blocks across India.

### Competitive strengths
- Government-owned status
- Extensive operational experience in mechanized mining
- Strategic diversification into critical minerals

## Related stocks

- [APL Apollo Tubes Limited (Metals)](https://faxioms.com/stocks/aplapollo) — -0.41%
- [Hindustan Copper Limited (Metals)](https://faxioms.com/stocks/hindcopper) — -0.67%
- [JINDAL STEEL LIMITED (Metals)](https://faxioms.com/stocks/jindalstel) — +1.31%
- [Jindal Stainless Limited (Metals)](https://faxioms.com/stocks/jsl) — +2.06%
- [Lloyds Metals And Energy Limited (Metals)](https://faxioms.com/stocks/lloydsme) — -1.41%

## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/nmdc
Markdown representation: https://faxioms.com/stocks/nmdc?render=md