138% Returns in 1 Year: LKP Securities eyes 21% upside on multibagger PSU stock

NMDC Share Price: NMDC Ltd is well-positioned to leverage strong volume growth in the domestic steel markets over the coming year, with the mining business anticipated to achieve a compound annual growth rate of approximately nine per cent from FY24 to FY26E.

On the back of NMDC’s strong operational capacity, aggressive expansion plans, robust net cash position and continued strong tailwinds for domestic steel demand we expect NMDC to clock Revenue/EBITDA/PAT CAGR of 9%/16%/14% over FY25-26E. At CMP, the stock is trading at 6.8x/5.3x EV of FY25E/FY26E EBITDA. We maintain our ‘BUY’ rating with a revised TP of 301 (earlier 297) valuing at 6.7x EV/EBITDA of FY26E.

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Published: 11 Jun 2024, 07:51 PM IST

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