NMDC having a good run

NMDC is having a good run on the bourses today morning. The stock price surged over 3.5% to Rs.132.30, clocking good volumes of over 2.5 lakh shares.

The stock price has risen after India’s largest iron ore miner hiked prices. These prices are the highest over the past 13 months, effective from today.

It has hiked prices of lump iron ore by 13% (MoM) to Rs.2600/tonne, a 23% jump in price (YoY).

The prices of fines were raised 10% to Rs.2260/tonne; the same prices had been lowered by around 5% last month.