NMDC, NCL India shares get boost as government may remove custom duty from critical minerals

NMDC Share Price: Shares of NMDC and NLC India were trading higher in morning deals on BSE on Wednesday (December 13) after source-based news says that critical minerals may get a boost in the budget. 

NMDC was up by 1.56 per cent, or Rs 2.85, at Rs 185.85, while NLC India was trading higher by 2.33 per cent, or Rs 4.40, at Rs 193.50, at 9:53 am on Wednesday.

The public sector undertaking NMDC is the largest producer or iron ore in India, while NLC India, also a PSU, mines lignite and generates power. 

Sources said on Wednesday that critical minerals might get a boost in the upcoming budget of the central government.

The biggest development that can take place is custom duty might be removed from critical minerals.

The mining ministry had recommended to remove custom duty from critical minerals.

At present, 5-10 per cent custom duty is imposed on critical minerals.