NMDC Share Price Rises 2.82% on May 2 Following Iron Ore Price Hike & Interim CFO Appointment

NMDC Limited has been gaining attention on Friday. On May 2, 2025, NMDC share price opened at ₹65.43, up from its previous close of ₹64.79. At 10:42 AM, the share price of NMDC was trading at ₹66.62, up by 2.82% on the NSE. Notably, the share price hit its 52-week low recently on April 9, 2025, at ₹59.53.  

Iron Ore Price Revision 

The company has revised the prices of its iron ore products effective May 1, 2025. The new Free on Rail (FOR) prices are: 

• Baila Lump (65.5%, 10-40 mm): ₹6,440 per ton 

• Baila Fines (64%, -10 mm): ₹5,500 per ton 

These prices include Royalty, DMF (District Mineral Foundation), and NMET (National Mineral Exploration Trust), but exclude Cess, Forest Permit Fee, Transit Fee, GST, Environmental Cess, and other applicable taxes. The price revision is aligned with market dynamics and may help bolster the company’s revenue performance in the upcoming quarters. 

CFO Appointment to Fill Key Position

In a board meeting held on April 30, 2025, NMDC approved the appointment of Shri K. Venkateswarlu, General Manager (Finance), as the Whole-Time Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the company. His term will last until a new Whole-Time Director (Finance) assumes charge or until his superannuation on June 30, 2025, whichever is earlier. 

This appointment comes as a stop-gap measure following the additional charge of Director (Finance) being temporarily handled by Smt. Priyadarshini Gaddam, Director (Personnel). 

Profile of the Appointed CFO 

Shri K. Venkateswarlu, born on June 3, 1965, is a Chartered Accountant and a Commerce graduate. With 35 years of experience in corporate finance, taxation, internal controls, and treasury operations across the metal, mining, and insurance industries, he brings significant leadership and financial expertise to the role. 

Also Read: Reliance Power Secures 25-Year SECI PPA for Asia’s Largest Solar-BESS Project! 

About NMDC Ltd 

NMDC is involved in the exploration and production of Iron Ore along with Diamond, production and sale of Sponge Iron and generation and sale of Wind Power. 

Conclusion 

NMDC’s recent uptick in stock price, iron ore price revision, and the strategic CFO appointment signal operational stability and financial prudence.  

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