NMDC Stock Performance Analyzed
NMDC, a company that mines and sells iron ore, recently saw its stock price fluctuate. As of today (November 13, 2023), the stock was trading at Rs 78.43, which is a slight decrease of 0.27%. This happens to be the fifth consecutive day that the stock has gone down.
Key Points
- NMDC stock down 0.27% today, trading at Rs 78.43.
- Stock jumped 15.19% in the last year, outperforming NIFTY & Metal indices.
- NIFTY up 0.17%, Sensex up 0.07% on the same day.
- NMDC down 3.8% in the last month, while Metal index rose 7.62%.
- Heavy trading volume of 119.03 lakh shares observed today.
- PE ratio stands at 9.74 based on latest earnings data.
Looking back over the last year, NMDC has performed surprisingly well compared to the rest of the stock market. It increased by 15.19%, while the overall NIFTY index only rose by 8.6% and the Nifty Metal index jumped by 35.57%. This shows the company is doing something right, or at least capitalizing on favorable conditions in the metal market.
However, recently the stock has been going down. Over the last month, the price has dropped by 3.8%. The Nifty Metal index, which includes NMDC, has seen a more positive increase of 7.62% in the same period. This means that while NMDC is struggling a bit, the broader metal sector is still doing well.
Trading activity around NMDC has been high. Today, 119.03 million shares were traded, which is much more than the average of 320.56 million shares traded over the past month. The price of the January futures contract for NMDC is also down, decreasing by 0.55% to Rs 78.15.
The company’s valuation is also important to consider. Its Price-to-Earnings (PE) ratio is currently 9.74. This means investors are paying Rs 9.74 for every unit of the company’s profits, based on the most recent financial information available.
Understanding stock market movements requires looking at both the short-term and long-term trends, alongside overall market conditions.
