Eid Al-Fitr: Why NMDC Stands Out As The Best Eid 2025 Investment Choice? Key Levels You Can’t Ignore!

A Navratna Public Sector Undertaking under the Ministry of Steel, NMDC Limited (previously National Mineral Development Corporation) is the largest manufacturer of iron ore in India. It also undertakes mineral exploration and extraction. In Panna, Madhya Pradesh, NMDC also runs India's sole automated diamond mine. With automated mines in Karnataka and Chhattisgarh, it is the largest producer of iron ore in India. In light of the upcoming celebration of Eid-ul-Fitr 2025, which is anticipated to take place on March 31 or April 1, Choice Broking's executive director, Sumeet Bagadia, announced NMDC as its top stock pick for the festival. With a market valuation of Rs 20.19KCr, NMDC's shares closed Friday's trading session on the NSE 0.29% higher at Rs 68.75 a share.

NMDC Share Price Target

Buy NMDC @ Rs 69.1 & Upto Rs 67 for the Target of Rs 79.5

"NMDC is currently trading at 69.1 and has recently broken out from a long consolidation range on the daily chart. The stock is consolidating near support with significant volume, indicating strong buying interest. A close above 70 could confirm a breakout, with potential upside targets of 79.5 in the short to mid-term. Any dip near 67 can be considered a buying opportunity," said Sumeet Bagadia.

"The immediate resistance levels are at 73 and 75, where short-term gains can be booked. Momentum indicators support this bullish outlook, with the RSI at 57.7 trending upward, signaling increasing buying strength. The Stochastic RSI has also shown a positive crossover, reinforcing the potential for further gains," the analyst added.

"On the weekly chart, the price has given a crossover of key exponential moving averages (20, 50, and 100), further confirming bullish momentum. The 64 level is a crucial support zone. A breakdown below this level could indicate weakness, requiring a reassessment of the holding strategy and potential adjustments based on market conditions. With strong technical support and improving momentum, traders can look to buy at the current level and add on dips up to 67. A sustained move above 70 would provide confirmation for higher targets of 79.5," Sumeet Bagadia further recommended.

NMDC Dividend

In its meeting on Monday, March 17, 2025, the company's Board of Directors announced the first interim dividend for the fiscal year 2024-2025 at Rs 2.30 per equity share with a face value of Rs 1/-each. For this purpose, the record date was set for Friday, March 21, 2025.

NMDC News

"In pursuance of the SEBI (Prohibition of Insider Trading) Regulations, 2015 and the Company's Internal Code of Conduct for Prevention of Insider Trading, the trading window for dealing with the securities of the Company shall remain closed for all Insiders including Designated Persons and their immediate relatives from 1st April 2025 and end 48 hours after the declaration of the financial results (standalone and consolidated) of the Company for the quarter and year ending 31st March 2025," NMDC said in a regulatory filing.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.