09 Sep 2026 | 3 Mins Read
Steel Exchange India Jumps 4% After NMDC Strategic Sourcing Agreement
Flipitmoney
Steel Exchange India Ltd. signed a four-year, non-exclusive MoU with NMDC for consistent Fe ore (61-63%) supply from NMDC’s new Visakhapatnam facility, strengthening its raw material security amid ongoing capacity expansion. Despite a 10% YoY revenue drop in Q1 FY27 to Rs. 269.71 crore, net profit rose 47% YoY to Rs. 15.02 crore.