Will price hike help NMDC glitter?

NMDC, a State-led mineral producer, has increased the price of lump ore and iron ore fines with effect from September 7. Accordingly, lump ore price has been increased to ₹3,550 per tonne from ₹3,350 and iron ore fines to ₹3,110 from ₹2,960. The company had sold 11.04 million tonnes of iron ore till August 2018, while it produced 9.85 mt. On revenues of ₹2,421.99 crore, NMDC had reported a profit of ₹975.27 crore in the April-June quarter.