# NMDC Stock Down 23% in 6 Months

> NMDC shares dropped 23% in six months as Nuvama raises target to ₹100 with 42% upside potential.
- Title: NMDC Stock Down 23% in 6 Months · mint | Shortify
- Summary: NMDC shares dropped 23% in six months as Nuvama raises target to ₹100 with 42% upside potential.
- Keywords: nmdc, nuvama, dividend, psu, stock market, target price, upside potential, ebitda, mint
- Source: mint — https://livemint.com/market/stock-market-news/dividend-king-psu-stock-down-23-in-6-months-nuvama-sees-42-upside-target-price-rationale-11794660044292.html
- Author: Sharmila Bhadoria
- Published: 2026-11-14T14:11:10+00:00
- Read time: 1 min
- Topics: nmdc, nuvama, dividend, psu, stock market, target price, upside potential, ebitda, money, business
## NMDC Shares Decline
NMDC shares fell 1.76% to ₹69.90 on Friday after second-quarter EBITDA declined 3% year over year to ₹19.4 billion.
## Nuvama Raises Target
Nuvama retained a Buy rating and raised its target price to ₹100, citing normalized supplies and potential second-half volume growth.
## Stock Down 23% in 6 Months
NMDC share price has declined 23% in six months, 17.74% in three months, and 2.17% in one month.
## Nuvama's Rationale
Nuvama sees nearly 42% upside potential in NMDC stock as supplies normalize after monsoon-led logistic disruption.
## Key takeaway

NMDC shares fell 23% in six months after second-quarter EBITDA declined, but Nuvama raised target price to ₹100 with 42% upside potential.