NMDC Shares Tumble As Kotak Institutional Equities Cuts Earnings Estimates - BQ Prime

Kotak cut its fair value for NMDC to Rs 105 apiece from Rs 110, and revised rating to ‘reduce’ from ‘sell’.

Also, the export duty on pellets (45% from nil earlier) and iron ore (50% from 30% earlier) have plummeted Indias iron ore exports, the report said. India is an oversupplied market for iron ore, expo… [+555 chars]

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