NMDC - H2 FY25 To Have Price, Volume Recovery: Yes Securities

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NMDC Ltd. (Source: Company website)

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Yes Securities Report

We see that the upcoming holidays in China, the Chinese stimulus towards the property sector, steel cycle entering the winter months which are likely to see production cuts would have a positive impact on the pricing and NMDC Ltd. can stand to benefit from the same.

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We value NMDC at six times FY26E enterprise value/Ebitda and revise our price targets on the company from Rs 239/share to Rs 260/share.

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