NMDC Steel, a subsidiary of the National Mineral Development Corporation (NMDC), is listed on both the NSE and BSE. This post will delve into the share price target predictions for NMDC Steel from 2024 to 2030, based on historical performance and fundamental analysis. As of April 12, 2024, the current market price of NMDC Steel is ₹63.90.
NMDC Steel Limited: A Brief Overview
Established in 2015, NMDC Steel Limited is a public sector enterprise under the Ministry of Steel, Government of India. It emerged after a demerger from NMDC and started its first commercial production on August 31, 2023. The company operates a 3 million tonne per annum (MTPA) steel plant in Nagarnar, Chhattisgarh, producing long steel products such as rails, beams, and billets. The government holds a 60.79% stake in NMDC Steel Limited.
NMDC Steel’s Performance Since Listing
Since its listing on February 20, 2023, NMDC Steel has provided substantial returns to its investors, with a growth of 111.24%, moving from ₹31.70 to ₹63.90. The stock has a 52-week high of ₹73.70 and a 52-week low of ₹31.10.
NMDC Steel Share Price Targets
2024 Price Targets
This table outlines NMDC Steel’s projected share prices month by month for 2024. Starting from ₹64.70 in April, the targets increase gradually to ₹80.15 by December, indicating a steady upward trajectory.
| Month | Target Price |
|---|---|
| April 2024 | ₹64.70 |
| May 2024 | ₹65.95 |
| June 2024 | ₹67.05 |
| July 2024 | ₹69.45 |
| August 2024 | ₹70.35 |
| September 2024 | ₹72.10 |
| October 2024 | ₹75.05 |
| November 2024 | ₹77.20 |
| December 2024 | ₹80.15 |
The share price of NMDC Steel may vary, with the lowest price in 2024 being ₹64.70 and the highest reaching ₹80.15.
2025 Price Targets
For 2025, NMDC Steel’s share price targets continue to rise steadily, starting at ₹82.50 in January and reaching ₹104.25 by December. This table forecasts consistent growth over the course of the year.
| Month | Target Price |
|---|---|
| January 2025 | ₹82.50 |
| February 2025 | ₹84.65 |
| March 2025 | ₹85.75 |
| April 2025 | ₹87.35 |
| May 2025 | ₹89.45 |
| June 2025 | ₹93.85 |
| July 2025 | ₹95.25 |
| August 2025 | ₹98.10 |
| September 2025 | ₹100.05 |
| October 2025 | ₹102.00 |
| November 2025 | ₹105.80 |
| December 2025 | ₹104.25 |
In 2025, NMDC Steel’s share price is expected to fluctuate between ₹82.50 and ₹104.25.
2026 Price Targets
In 2026, NMDC Steel’s share prices are projected to increase from ₹106.45 in January to ₹129.15 by December. This table highlights an anticipated growth trend with monthly variations.
| Month | Target Price |
|---|---|
| January 2026 | ₹106.45 |
| February 2026 | ₹109.20 |
| March 2026 | ₹107.30 |
| April 2026 | ₹110.45 |
| May 2026 | ₹112.55 |
| June 2026 | ₹115.35 |
| July 2026 | ₹118.40 |
| August 2026 | ₹121.01 |
| September 2026 | ₹122.50 |
| October 2026 | ₹124.60 |
| November 2026 | ₹127.10 |
| December 2026 | ₹129.15 |
In 2026, the price range for NMDC Steel is predicted to be between ₹106.45 and ₹129.15.
2027 Price Targets
The targets for 2027 show NMDC Steel’s share prices rising from ₹131.55 in January to ₹152.05 in December. It indicates continued growth with slight fluctuations across the months.
| Month | Target Price |
|---|---|
| January 2027 | ₹131.55 |
| February 2027 | ₹133.65 |
| March 2027 | ₹136.20 |
| April 2027 | ₹138.02 |
| May 2027 | ₹141.60 |
| June 2027 | ₹145.00 |
| July 2027 | ₹143.25 |
| August 2027 | ₹144.10 |
| September 2027 | ₹146.95 |
| October 2027 | ₹148.05 |
| November 2027 | ₹150.15 |
| December 2027 | ₹152.05 |
For 2027, the share price is expected to range from ₹131.55 to ₹152.05.
2028 Price Targets
This table forecasts NMDC Steel’s share prices for 2028, starting at ₹154.20 in January and rising to ₹177.80 by December. It demonstrates a consistent upward trajectory with monthly fluctuations.
| Month | Target Price |
|---|---|
| January 2028 | ₹154.20 |
| February 2028 | ₹156.00 |
| March 2028 | ₹159.35 |
| April 2028 | ₹158.10 |
| May 2028 | ₹161.35 |
| June 2028 | ₹162.60 |
| July 2028 | ₹164.35 |
| August 2028 | ₹166.55 |
| September 2028 | ₹169.30 |
| October 2028 | ₹172.45 |
| November 2028 | ₹174.65 |
| December 2028 | ₹177.80 |
In 2028, NMDC Steel’s share price is projected to fluctuate between ₹154.20 and ₹177.80.
2029 Price Targets
For 2029, NMDC Steel’s share price targets range from ₹180.25 in January to ₹207.90 by December. This table outlines a steady growth pattern over the course of the year.
| Month | Target Price |
|---|---|
| January 2029 | ₹180.25 |
| February 2029 | ₹181.60 |
| March 2029 | ₹183.55 |
| April 2029 | ₹186.65 |
| May 2029 | ₹188.80 |
| June 2029 | ₹191.35 |
| July 2029 | ₹193.25 |
| August 2029 | ₹195.45 |
| September 2029 | ₹198.70 |
| October 2029 | ₹202.82 |
| November 2029 | ₹205.75 |
| December 2029 | ₹207.90 |
The predicted share price for NMDC Steel in 2029 ranges from ₹180.25 to ₹207.90.
2030 Price Targets
The targets for 2030 indicate NMDC Steel’s share prices increasing from ₹209.30 in January to ₹241.00 by December. This final table shows a projected growth trend, providing a long-term outlook for potential investors.
| Month | Target Price |
|---|---|
| January 2030 | ₹209.30 |
| February 2030 | ₹212.45 |
| March 2030 | ₹214.20 |
| April 2030 | ₹217.55 |
| May 2030 | ₹220.35 |
| June 2030 | ₹223.70 |
| July 2030 | ₹226.90 |
| August 2030 | ₹228.45 |
| September 2030 | ₹232.60 |
| October 2030 | ₹234.05 |
| November 2030 | ₹237.10 |
| December 2030 | ₹241.00 |
For 2030, NMDC Steel’s share price is expected to range between ₹209.30 and ₹241.00.
Financials and Fundamentals of NMDC Steel in 2023
- Revenue: ₹1,202 Crore
- Expenses: ₹1,536 Crore
- EBITDA: ₹-452.25 Crore
- Profit Before Tax: ₹-927.92 Crore
- Net Profit: ₹-699.39 Crore
Fundamentals:
- Market Cap: ₹18,735 Crore
- P/E Ratio: 0.00
- Debt to Equity: 0.31
- ROE: -0.77%
- Book Value: 57.73
- Face Value: 10
Shareholding Pattern (as of December 2023)
- Promoters: 60.79%
- Domestic Institutions (DII): 15.93%
- Retail Investors: 15.76%
- Foreign Institutions (FII): 4.33%
- Mutual Funds: 3.19%
Key Considerations for Investors
Before investing in NMDC Steel, it’s crucial to:
- Analyze financial performance, including revenue growth, debt levels, cash flow, and net profit.
- Monitor production capacity, future contracts, cost management, and profit margins.
- Pay attention to government decisions on regulatory changes and policies, given the government’s significant shareholding.
- Evaluate fundamental metrics like the P/E ratio, market valuation, and P/B ratio.
- Understand your risk tolerance and implement proper risk management strategies.
Conclusion
As a government-backed entity, NMDC Steel Limited instills investor confidence. Despite being relatively new in the steel market, it’s essential to conduct thorough analysis and seek expert advice before investing, as the market can be unpredictable.
FAQ’s
What is the target price of NMDC Steel Limited in 2024? The target price for NMDC Steel in 2024 ranges between ₹64.70 and ₹80.15.
What is the target price of NMDC Steel Limited in 2030? The target price for NMDC Steel in 2030 ranges between ₹209.30 and ₹241.00.
Is NMDC Steel a good investment for the long term? While NMDC Steel shows potential for long-term growth, it’s essential to conduct thorough research and seek expert advice before making investment decisions.
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