India's NMDC Steel rises on favourable profit view
28/02/2023 08:28
** Shares of NMDC Steel NMDS.NS rise as much as 3.85% to
33.75 rupees
** Iron mines operator trading at a favourable risk-reward,
according to Systematix Institutional Equities
** NMDC Steel was recently demerged from state-owned NMDC
NMDC.NS with the government planning to divest its 50.79%
stake in NMDC Steel
** Brokerage says NMDS would be profitable due to proximity
to raw materials, low manpower costs; sees no hindrance from
NMDC's retention of 10% stake in it
** Systematix lists JSW Steel, Jindal Steel and Power, Essar
Steel, Adani Enterprises among likely bidders for NMDS
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))