Neutral impactResults
NMDC Upgrade: Nuvama Turns Bullish On Stock As Iron Ore Prices Near Bottom
NDTV Profit 3 hrs ago·17 Aug 2026, 12:49 pm
NMDC, India’s largest iron ore producer, is gaining attention as global iron ore prices appear to be stabilizing near their recent lows. This positive shift in market dynamics has prompted Nuvama to upgrade its rating on the stock, viewing the current valuation as attractive for investors. The brokerage believes the company is well-positioned to benefit as prices recover, potentially boosting its profitability in the coming quarters.
Despite the upgrade, Nuvama has adjusted its target price slightly downward to Rs 97, citing a shift in valuation multiples. The stock is now being valued at around 9 times its estimated earnings for fiscal year 2028. For investors, the key focus should be on the pace of iron ore price recovery and NMDC's ability to maintain its production volumes, which will be critical in driving future returns.
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Bull / bear label is derived from the article's AI sentiment — indicative, not advice. Prices may be delayed.
Key takeaways
- Concerns NMDC (NMDC).
- Category: Results.
Why it matters
A routine update for NMDC. Use the price and stock snapshot to gauge how the market is responding.
