NMDC shares slide 5% as Q1 profit dips, but brokerages still bullish. Here’s why

Shares of state-owned miner NMDC slipped as much as 4.9% on Thursday to Rs 69.02 on the BSE after the company posted a marginal 1% year-on-year decline in first-quarter profit despite a sharp jump in revenue, with brokerages including Nuvama and PL Capital maintaining positive ratings on expectations of firm prices, higher volumes and resilient demand ahead.