From mint · Sharmila Bhadoria · Nov 14, 2026 · 50s

NMDC Stock Down 23% in 6 Months

NMDC shares dropped 23% in six months as Nuvama raises target to ₹100 with 42% upside potential.

In brief

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

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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.

The takeaway

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

Read the original on mint

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