The price of Baila Lump has been revised higher by ₹440 per tonne to ₹6,440 from ₹6,000, back in January this year.
Price of Baila Fines has also been revised higher by ₹440 per tonne to ₹5,500 from ₹5,060 earlier this year.
These prices are inclusive of royalty, DMF, NMET and exclusive of cess, forest permit fee, transit fee, GST, environmental cess and other taxes, NMDC said in its exchange filing on Thursday.
NMDC is yet to declare its monthly business update for April.
NMDC has been in focus recently with the delay in the Karnataka Mineral Rights bill as the Governor of the state has reserved his judgement and sent it to the President for approval.
The delay in passage of New Karnataka Mineral Rights Bill proposed higher rates for mining, is positive for NMDC, for which the state forms more than 30% of revenue mix. It’s positive for companies like JSW Steel, Vednata and sandur Manganese too. The Union Steel Minister had earlier flagged that the tax increase will be negative for the sector.
You can read more on that here.
Shares of NMDC ended 1.4% lower on Wednesday at ₹64.64. The stock has declined 7.5% in the last one month.
