NMDC Share Price Jumps 2.88% as Company Plans ₹70,000 Crore Capex By 2030

State-owned iron ore miner NMDC saw its share price jump after unveiling a ₹70,000 crore capital expenditure plan over the next five years. The investment aims to expand its production capacity to 100 million tonnes, enhance evacuation infrastructure, and advance digital transformation.

Stock Performance

On January 29, 2025, NMDC share price traded 2.88% higher at ₹65.77 at 10:16 AM (IST). The stock reached a 52-week high of ₹95.35 on May 21, 2025, and a 52-week low of ₹59.70 on January 13, 2025. According to BSE data, the total traded volume for the stock stood at 3.03 lakh shares, with a turnover of ₹1.97 crore.

Expansion Plans & Growth Strategy

NMDC’s managing director, Amitava Mukherjee, emphasised the significance of reaching 100 million tonnes by 2030, calling it a “once-in-a-lifetime opportunity” to establish a global mining powerhouse. Addressing vendors in Hyderabad, he encouraged them to prepare for the company’s ambitious expansion.

In FY24 (April-March), NMDC produced 45.02 million tonnes and sold 44.48 million tonnes of iron ore. It recorded its highest-ever annual capital expenditure of ₹2,066 crore, surpassing its target of ₹1,769 crore by 17%.

Alignment with National Steel Policy

NMDC’s production target aligns with the National Steel Policy 2017, which envisions India’s domestic steel production capacity reaching 300 million tonnes. Iron ore, a crucial raw material for steelmaking alongside coking coal, is supplied by NMDC to steel manufacturers, including both captive producers like Tata Steel and Steel Authority of India, as well as buyers from the open market.

Operational Presence

A key player under the Ministry of Steel, NMDC operates iron ore mines in Chhattisgarh and Karnataka. With its latest expansion strategy, the company aims to bolster India’s mining sector while securing its leadership in global iron ore production.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.