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NMDC - Falls Short On Annual Volume Guidance: Systematix

We value NMDC at 5.2 times FY26E enterprise value/Ebitda to arrive at a revised target price of Rs 209/share (Rs 222/share earlier). Maintain Hold

<div class="paragraphs"><p>NMDC Ltd. (Source: Company website)</p></div>
NMDC Ltd. (Source: Company website)
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