NMDC Declines Over 4% In Trade Today! Here's Why | ET Now | Latest Updates | Business News

Channel:

ET NOW

Subscribers:

1,180,000

Published on November 15, 2022 6:47:36 AM ● Video Link: https://www.youtube.com/watch?v=5-ZRKouxo7M

Category:

Vlog

Duration: 1:48

680 views

10

NMDC reported a weak set of Q2FY23 Results. Revenues declined by nearly 30% QoQ while Net Profit fell 40% QoQ. EBITDA Margins came in at 26% in Q2FY23 vs 46% in Q2 FY22. EBITDA/t at INR1,009 was down 71% YoY and 59% QoQ which reflects higher costs. Motilal Oswal believes Iron ore demand remains weak. They believe demerger is not a trigger for the stock any longer. They do not expect the NMDC steel plant to be divested at a premium. Motilal Oswal has maintained a Neutral rating with a revised SoTP-based TP of INR124 (v/s INR128 earlier). Citi meanwhile has downgraded NMDC to sell- with a target price of Rs 100 per share. They say- they are struggling to find upside triggers to the stock. NMDC trades at 4x 1-yr fwd EV/EBITDA- in line with global peers.
Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3

Subscribe Now To Our Network Channels :-
Times Now : http://goo.gl/U9ibPb
The NewsHour Debate : http://goo.gl/LfNgFF

To Stay Updated Download the Times Now App :-
Android Google Play : https://goo.gl/zJhWjC
Apple App Store : https://goo.gl/d7QBQZ

Social Media Links :-
Twitter - http://goo.gl/hA0vDt
Facebook - http://goo.gl/5Lr4mC
G+ - http://goo.gl/hYxrmj
Website - www.etnownews.com