NMDC Steel shares skyrocket over 11%; here is what the company shared on Monday

On April 6, the company, in its filing to stock exchanges, stated that the number of shares of NMDC Steel Limited held by the President of India (Promoter of the Company) as of March 31, 2026, is 178,16,33,571 (60.79%) and that the Promoter had not made any encumbrance of shares, directly or indirectly, during the financial year ended March 31, 2026.

About NMDC Steel

NMDC Steel Limited is a government company under the administrative control of the Ministry of Steel, Govt. of India. The shares of the company are listed on the BSE and NSE. "The company owns and operates the state-of-the-art 3 MTPA steel plant at Nagarnar, Chhattisgarh," as per the official website.

The steel plant has been built at a cost of approximately ₹24000 crore.

NMDC Steel Limited, through its 3 MTPA integrated steel plant at Nagarnar, produces high-quality flat products, including hot-rolled (HR) coils, sheets, and plates, which serve various industrial sectors. The company focuses on manufacturing high-strength structural steel, API-grade steel for pipelines, and materials intended for the automotive and infrastructure industries.

On January 7, 2026, NMDC Steel, in its filing to exchanges, said that the Ministry of Steel, Government of India, vide order dated 07.01.2026, has communicated about the appointment of Shri Vishwanath Suresh, Director (Commercial), NMDC, as Chairman & Managing Director, MOIL Limited, with effect from the date of his assumption of charge of the post.

"Accordingly, Shri Vishwanath Suresh has been relieved from the services of NMDC Limited with effect from 07.01.2026 and ceased to be a director on the board of NMDC Limited with effect from 07.01.2026," the filing said.

Further, in terms of the earlier order of the Ministry of Steel dated 20.03.2023, the CMD, functional directors, and government directors of NMDC Limited will also be the CMD, functional directors, and government directors of NMDC Steel Limited, respectively, on a co-terminus basis.

Accordingly, Shri Vishwanath Suresh has also ceased to be a director on the board of NMDC Steel Limited with effect from 07.01.2026.