NMDC: Too expensive to be a value buy

NMDC is the largest iron ore produce of India. In FY16, NMDC produced ~28.32 million tonnes of iron ore out of the 155 million tonnes produced in India from its mines in Chhattisgarh and Karnataka. NMDC is currently working towards commissioning a steel plant at Nagarnar, Chhattisgarh  by Dec-17 that will produce around 3 million tonnes of flat products. NMDC will maintain its position as the largest producer of iron ore in the country in FY17. Continue reading “NMDC: Too expensive to be a value buy”