NMDC achieves best ever Production and Sales in February

NMDC, the country's largest Iron Ore producer, has witnessed a spectacular growth during the month of February 2021 both in production and sales performance over the CPLY.

Iron ore production for the month of February 2021 stands at 3.86 MT as against the 3.24 MT of ore mined in the corresponding month in February 2020, and registered a growth of 19% over the same.

Sales during the period of February 2021 increased by 12% at 3.25 MT as against the 2.91 MT done in the month of February 2020.

The Bailadila Projects at Chhattisgarh has produced 3.15 MT in February 2021 as compared to last year's production of 2.93 MT in the month of February, and registered a growth of 8% in production.

The total sales of iron ore from Bailadila projects in the month of February 2021 is 2.62 MT against 2.42 MT in February 2020, which is 8% higher than the previous year.

Speaking about the production and sales numbers of February 2021, Shri Sumit Deb, CMD, NMDC, commented, "These production and sales figures definitely display NMDC's strong character to bounce back in spite of operational challenges. This achievement is possible only due to the hard-work and commitment demonstrated by the employees. We foresee a gradual rise in numbers and will continue to set new records."

NMDC has recently restarted the operations at Donimalai mines. The mines have a capacity to produce a minimum of 0.5 MT of iron ore per month and the overall performance of the company will be further enhanced with the resumption of operations in Donimalai.

Shares of NMDC LTD. was last trading in BSE at Rs.133.8 as compared to the previous close of Rs. 131.6. The total number of shares traded during the day was 1269369 in over 7147 trades.

The stock hit an intraday high of Rs. 134.95 and intraday low of 131.6. The net turnover during the day was Rs. 169038833.

Source : Equity Bulls

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