NMDC falls 1.76% as Q2 EBITDA misses estimates
In short
NMDC shares fell 1.76% to ₹69.90 on Friday. Its second-quarter EBITDA dropped 3% year over year to ₹19.4 billion, which came below expectations.
Nuvama still kept a Buy rating and lifted its target price to ₹100. It said supplies had normalised and volume could improve in the second half.
What the reporting says
NMDC shares fell 1.76% to ₹69.90 on Friday after its second-quarter EBITDA declined 3% year over year to ₹19.4 billion. Nuvama kept a Buy rating and raised its target price to ₹100, citing normalized supplies and possible second-half volume growth.
Why it matters
NMDC shares declined after the company reported second-quarter EBITDA of ₹19.4 billion, down 3% year over year and below expectations. Despite the drop, Nuvama maintained a Buy rating and increased its target price to ₹100. The note pointed to normalized supplies and possible second-half volume growth as reasons for the more positive view.