NMDC share price Forecast / Target
NMDC (National Mineral Development Corporation) was incorporated in 1958 as a Government of India fully owned public enterprise. NMDC is under the administrative control of the Ministry of Steel, Government of India. Since inception involved in the exploration of wide range of minerals including iron ore, copper, rock phosphate, lime stone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, beach sands etc.
NMDC is India’s single largest iron ore producer, presently producing about 30 million tonnes of iron ore from 3 fully mechanized mines viz., Bailadila Deposit-14/11C, Bailadila Deposit-5, 10/11A (Chhattisgarh State) and Donimalai Iron Ore Mines (Karnataka State). NMDC Projects have following accreditation’s.
We have initiated Buy in NMDC at 92 and now we are still getting the stock further cheaper from the point at which we initiated Buy. There are some simple facts to understand as far as NMDC goes. At the current valuation NMDC is totally free of cost and risk free to the Indian Investor and in reality investors should be buying into such amazing opportunity.
As of today’s closing price NMDC dividend yield is at a staggering 11.3% means for every 100 INR invested you are getting 11.30 INR as dividend every year, which is far higher than post tax returns of a Fixed deposit. (FD today gives you a return of 6.2 Post tax ). NMDC is totally debt free and our cycle analysis shows within the next 2-3 months Iron ore will start zooming higher and that will change the fortunes for NMDC. So use all dips to buy and hold NMDC. Money is always made in buying deep value and NMDC is very cheap as of now.
NMDC share price Forecast / Target is 300+ in the next 23 months. Use all dips and such panic to accumulate NMDC.
Good Trading To You!