Favourable winds for NMDC stock

*IRON ORE PRICE ZOOM 50% FROM JUNE LOW*

ANTIQUE   TP 150
MOTILAL OSWAL TP180

After seeing a steep correction between February and June, the NMDC stock has rebounded. More gains are likely. While the stock's correction was due to declining iron ore prices, recovery in prices and strong June quarter performance lifted sentiment. From highs of $90 a tonne in February, iron ore prices had *fallen to $50 levels by June-end. The price is now close to $75 a tonne*. Despite a correction in iron ore prices during the June quarter, profitability of NMDC improved(
*EBIDTA surged 55% YoY, 71% QoQ. PAT up 37% YoY, 89% QoQ*)

http://www.business-standard.com/article/companies/favourable-winds-for-nmdc-stock-117081801537_1.html