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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
NMDC shares in focus as strike ends, normal operations resume
NMDC shares will be in focus on Monday after the state-owned miner’s strike ended with trade unions withdrawing their protest over wage settlement.
The company confirmed that employees resumed duties from the first shift on March 20, restoring normal operations across all projects.
The strike, which began on March 6, had significantly impacted production at India’s largest iron ore producer. In a statement, NMDC said the Federation of Unions instructed its members to return to work and support optimal performance.
“NMDC acknowledges the importance of its workforce, which has been its backbone. This decision to resume work will strengthen trust and help the company meet its production targets,” the company stated.
Earlier, NMDC had termed the strike illegal, citing a slowdown in work despite ongoing wage revision negotiations.
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The last wage revision took place in 2017, with the next one due in 2022. Although an agreement was reached in August 2024, it required approval from the Ministry of Steel. The company assured unions that it was actively pursuing the matter with the ministry.
The production slowdown posed a significant challenge to NMDC’s annual target of 48 million tonnes for FY25. Output had fallen by over 60% in recent days, raising concerns about financial performance, PTI reported.
NMDC shares target price
As per Trendlyne data, the average target price of the stock is Rs 73, which shows an upside of 8% from the current market prices. The consensus recommendation from 17 analysts for
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Subscribe to enjoy similar stories.Pain is invisible; the sufferer has to make noise for it to be acknowledged, treated or accepted. Mumbai-based artist Koshy Brahmatmaj, 34, lives with chronic endometriosis, a painful condition that afflicts millions of women around the world.
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Even at $5 trillion, Nvidia is underappreciated
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markets
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PI Industries’ weak core business keeps investors on edge
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