India's NMDC Steel drops on sequential profit fall

JM Financial

17/08/2026 10:50

** Shares of NMDC Steel NMDS.NS fall as much as 9% to 40.48 rupees, hitting their lowest level since April 9
** Co reported a 87% q/q decline in Q1 profit, with revenue falling nearly 6% 
** Co's performance moderated meaningfully q/q with EBITDA falling around 50%, JM Financial said in a note
** Sequential decline was largely attributable to lower scale of operations in our view amid a seasonally weaker quarter - JM Financial
** Steel maker last down 6.5% for the day, set for its worst session since January 8, 2026
** YTD, NMDS is down 6%

(Reporting by Nishit Navin in Bengaluru)
((nishit.navin@thomsonreuters.com))