NMDC tanks nearly 4% on reducing higher grade iron ore prices

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Shares of state-owned iron ore producer, NMDC slipped over 4 per cent in early trade on Bombay Stock Exchange (BSE) after the Navaratna company reduced prices of higher grade iron ore (lumps) by about 2.5 per cent for the current month.

Weighed down by development, shares of the company declined as much as 3.79 per cent to trade at Rs 133.00 a piece on the BSE.

In a similar fashion, shares of the company were quoting at Rs 134.70 a piece, down 2.50 per cent on the National Stock Exchange (NSE).

Meanwhile, the broader benchmark Sensex was quoting at 18,782.47, down 136.05 points or 0.72 per cent at 10:05 hours.

Read more about: nmdc
Story first published: Monday, March 4, 2013, 13:31 [IST]
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