India's NMDC Steel falls after Q2 loss widens

NMDC Steel

13/11/2024 04:50

** Shares of NMDC Steel  NMDS.NS  fall as much as 4.9% to 43.90
rupees
** NMDS on Tuesday reported Q2 loss of 5.95 bln rupees ($70.5
mln) vs a loss of 1.31 bln rupees yr ago
    ** While rev from ops jumped more than five-fold to 15.22
bln rupees, total expenses led by raw material cost rose too
jumped five fold to 23.64 bln rupees
    ** Stock on track for a fourth consecutive session of loss,
if trend holds
    ** Stock down 14.3% YTD
     
     
     
     
    ($1 = 84.4020 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru)
((mailto:ashish.chandra@thomsonreuters.com (+91 7982114624))