{"id":30814,"date":"2024-12-18T18:56:22","date_gmt":"2024-12-18T13:26:22","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=30814"},"modified":"2025-07-08T11:24:40","modified_gmt":"2025-07-08T05:54:40","slug":"nmdc-share-price-fall-news","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/nmdc-share-price-fall-news\/","title":{"rendered":"NMDC Share Price Fall 7.1%: Karnataka Government Looks to Increase Iron Ore Duty\u00a0"},"content":{"rendered":"<p>The shares of state-owned <a href=\"https:\/\/univest.in\/stocks\/nmdc\/nmdc-ltd-share-price-today\">NMDC Ltd.<\/a> recorded a low of Rs. 211.30 per share on December 18th, 2024, which was a fall of approximately 7.1% from the previous day\u2019s close of Rs. 227.51. The selling pressure was seen following the media reports that the Sri Siddaramaiah-led Karnataka government is considering an increase in the iron ore mining duty.\u00a0<\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/nmdc-share-price-fall-news\/#Factors_Behind_NDMCs_Fall\" title=\"Factors Behind NDMC\u2019s Fall\">Factors Behind NDMC\u2019s Fall<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/nmdc-share-price-fall-news\/#Other_Developments\" title=\"Other Developments\">Other Developments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/nmdc-share-price-fall-news\/#About_NDMC\" title=\"About NDMC\">About NDMC<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/nmdc-share-price-fall-news\/#NDMC_Financial_Performance\" title=\"NDMC Financial Performance\">NDMC Financial Performance<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Factors_Behind_NDMCs_Fall\"><\/span><strong>Factors Behind NDMC\u2019s Fall<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Earlier this month, the State Cabinet gave a nod to the Karnataka (Mineral Rights and Mineral Bearing Land) Tax Bill, 2024. The bill was approved to allow the government to levy and collect taxes on the exercise of mineral rights and mineral-bearing lands in the state.&nbsp;<\/p><p>The states are now allowed to collect mining taxes from 2005 retrospectively after the Supreme Court\u2019s approval. The proposed law is expected to fetch a revenue of Rs. 4,207.95 crores and Rs. 505.9 crores from taxes on land-bearing minerals. Like NDMC, the share prices of <a href=\"https:\/\/univest.in\/stocks\/sail\/steel-authority-of-india-ltd-share-price-today\">SAIL<\/a> and <a href=\"https:\/\/univest.in\/stocks\/jswsteel\/jsw-steel-ltd-share-price-today\">JSW Steel<\/a> have also plummeted amid such legal trends.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Other_Developments\"><\/span><strong>Other Developments<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>The company had announced the issuance of bonus issue on Tuesday, December 18th. The company has set Friday, December 27th as the \u201crecord date\u201d to determine the eligibility of the shareholders for issuance and allotment of the abovementioned bonus shares. It has already received in-principal approval from BSE and NSE for the bonus issue.&nbsp;<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"About_NDMC\"><\/span><strong>About NDMC<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>NMDC is a \u2018Navratna\u2019 public-sector enterprise, operating under the <a href=\"https:\/\/en.wikipedia.org\/wiki\/Ministry_of_Steel\" rel=\"nofollow noopener\" target=\"_blank\">Ministry of Steel<\/a>, and owns and operates highly automated iron ore mines in Karnataka and Chhattisgarh. Karnataka contributes approximately 35% of the company\u2019s production mix and, hence is important for its operations.\u00a0<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NDMC_Financial_Performance\"><\/span><strong>NDMC Financial Performance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>The company announced its quarterly results for June to September 2024 in the second week of November. It recorded a 17% rise in the net profits at Rs. 1,195.63 crores as compared to Rs. 1,024 crores in the same quarter for the previous year.<\/p><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Period Ended<\/strong><\/td><td><strong>31 Sep 2024&nbsp;<\/strong><strong>(in Cr.)<\/strong><\/td><td><strong>31 Mar 2024<\/strong><strong>(in Cr.)<\/strong><\/td><td><strong>31 Mar 2023<\/strong><strong>(in Cr.)<\/strong><\/td><td><strong>31 Mar 2022<\/strong><strong>(in Cr.)<\/strong><\/td><\/tr><tr><td><strong>Revenue&nbsp;<\/strong><\/td><td>4,919<\/td><td>22,232<\/td><td>17,667<\/td><td>25,965<\/td><\/tr><tr><td><strong>Operating Income<\/strong><\/td><td>1,386<\/td><td>7,294<\/td><td>6,054<\/td><td>12,626<\/td><\/tr><tr><td><strong>Net income<\/strong><\/td><td>1,205<\/td><td>5,575<\/td><td>5,601<\/td><td>9,429<\/td><\/tr><tr><td><strong>EPS&nbsp;<\/strong><\/td><td>4.13<\/td><td>19.01<\/td><td>19.12<\/td><td>32.17<\/td><\/tr><\/tbody><\/table><\/figure><p>The sharp price decline in NMDC\u2019s share price reflects investor\u2019s concerns over the recent proposal of the Karnataka government\u2019s proposed iron ore duty hike, which could impact the costs and margins of the company. While solid financial performance and issuance of bonus shares reflect the company\u2019s resilience, regulatory challenges may further pressure the stock performance.<\/p>","protected":false},"excerpt":{"rendered":"<p>The shares of state-owned NMDC Ltd. recorded a low of Rs. 211.30 per share on December 18th, 2024, which was a fall of approximately 7.1% from the previous day\u2019s close of Rs. 227.51. The selling pressure was seen following the media reports that the Sri Siddaramaiah-led Karnataka government is considering an increase in the iron<\/p>\n","protected":false},"author":23,"featured_media":30815,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[1028,1030,1029],"class_list":["post-30814","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ndmc","tag-ndmc-news","tag-ndmc-stock-fall"],"metadata":{"_edit_lock":["1751954082:23"],"_last_editor_used_jetpack":["block-editor"],"rank_math_internal_links_processed":["1"],"rank_math_primary_category":["842"],"rank_math_seo_score":["20"],"_thumbnail_id":["30815"],"_edit_last":["23"],"_ez-toc-disabled":[""],"_ez-toc-insert":[""],"_ez-toc-header-label":[""],"_ez-toc-alignment":["none"],"_ez-toc-heading-levels":["a:0:{}"],"_ez-toc-alttext":[""],"_ez-toc-visibility_hide_by_default":[""],"_ez-toc-hide_counter":[""],"_ez-toc-exclude":[""],"_ez-toc-position-specific":["before"],"stm_select_gm_zoom":[""],"stm_agenda":[""],"stm_host":[""],"stm_select_approved_denied":[""],"stm_multiselect_approved":[""],"stm_multiselect_denied":[""],"stm_date":[""],"stm_time":[""],"stm_timezone":[""],"stm_duration":[""],"stm_password":[""],"stm_waiting_room":[""],"stm_join_before_host":[""],"stm_host_join_start":[""],"stm_start_after_participants":[""],"stm_mute_participants":[""],"stm_enforce_login":[""],"stm_alternative_hosts":[""],"top_bar_custom_style":[""],"top_bar_bg":[""],"wc_top_bar_cart_custom_style":[""],"wc_top_bar_cart_color":[""],"wc_top_bar_cart_icon_color_hover":[""],"wc_top_bar_cart_counter_color":[""],"wc_top_bar_cart_counter_color_hover":[""],"wc_top_bar_cart_counter_bg":[""],"wc_top_bar_cart_counter_bg_hover":[""],"top_bar_wpml_switcher_custom_style":[""],"wpml_switcher_color":[""],"top_bar_wpml_switcher_bg":[""],"top_bar_wpml_switcher_bg_hover":[""],"top_bar_wpml_switcher_color_hover":[""],"top_bar_socials_custom_style":[""],"top_bar_socials_color":[""],"top_bar_socials_color_hover":[""],"top_bar_search_custom_style":[""],"top_bar_search_color":[""],"top_bar_search_icon_color_hover":[""],"top_bar_contact_info_style":[""],"top_bar_contact_info_color":[""],"top_bar_contact_info_link_color":[""],"top_bar_contact_info_link_color_hover":[""],"top_bar_contact_info_select_bg":[""],"top_bar_contact_info_select_color":[""],"top_bar_contact_info_select_drop_bg":[""],"top_bar_contact_info_select_items_bg":[""],"top_bar_contact_info_select_items_color":[""],"top_bar_contact_info_select_items_hover":[""],"header_inverse":["default"],"enable_header_transparent":["off"],"header_nav_custom_style":[""],"header_bg":[""],"header_shadow":[""],"wc_cart_custom_style":[""],"wc_cart_icon_color":[""],"wc_cart_icon_color_hover":[""],"wc_cart_counter_color":[""],"wc_cart_counter_color_hover":[""],"wc_cart_counter_bg":[""],"wc_cart_counter_bg_hover":[""],"header_wpml_switcher_custom_style":[""],"header_wpml_switcher_color":[""],"header_wpml_switcher_color_hover":[""],"header_wpml_switcher_bg":[""],"header_wpml_switcher_bg_hover":[""],"header_socials_custom_style":[""],"header_socials_color":[""],"header_socials_color_hover":[""],"header_search_custom_style":[""],"header_search_icon_color":[""],"header_search_icon_color_hover":[""],"header_contact_info_style":[""],"header_contact_info_color":[""],"header_contact_info_link_color":[""],"header_contact_info_link_color_hover":[""],"header_button_custom_style":[""],"header_button_color":[""],"header_button_color_hover":[""],"header_button_bg":[""],"header_button_bg_hover":[""],"header_nav_menu_customize":[""],"header_nav_menu_link_color":[""],"header_nav_menu_link_color_hover":[""],"header_nav_menu_link_color_active":[""],"header_nav_menu_link_arrow_color":[""],"header_nav_menu_link_arrow_color_hover":[""],"header_nav_menu_level_1_bg":[""],"header_nav_menu_level_1_link_color":[""],"header_nav_menu_level_1_link_color_hover":[""],"header_nav_menu_level_1_link_bg_hover":[""],"header_nav_menu_level_1_link_arrow_color":[""],"header_nav_menu_level_1_link_arrow_color_hover":[""],"header_nav_menu_level_2_bg":[""],"header_nav_menu_level_2_link_color":[""],"header_nav_menu_level_2_link_color_hover":[""],"header_nav_menu_level_2_link_bg_hover":[""],"header_mega_menu_bg":[""],"header_mega_menu_title_color":[""],"header_mega_menu_title_color_hover":[""],"header_mega_menu_description_color":[""],"header_mega_menu_description_link_color":[""],"header_mega_menu_description_link_color_hover":[""],"header_mega_menu_color":[""],"header_mega_menu_color_hover":[""],"header_mega_menu_border_color":[""],"header_mega_menu_icons_color":[""],"header_nav_menu_customize_end":[""],"hfe_enabled_notice":[""],"disable_title_box":["default"],"hfe_disabled":[""],"enable_transparent":["default"],"title_box_title_bg_color":[""],"title_box_bg_custom_image":["default"],"title_box_bg_image":[""],"title_box_bg_position":["default"],"metabox_title_box_bg_position_x":[""],"metabox_title_box_bg_position_y":[""],"metabox_title_box_bg_attachment":["default"],"title_box_bg_size":["def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