Orissa Minerals Development Company’s Q3 2024 Earnings and Board Meeting: What to Expect

News: The Orissa Minerals Development Company (OMDC) is a significant player in the iron and steel sector. Investors eagerly await its quarterly results to gauge the company’s financial health and performance. Let’s dive into the details of OMDC’s Q3 results for 2024.

Company Background

• Founding Date: OMDC was established on August 16, 1918.
• Ownership: It operates as a Public Sector Undertaking under the administrative control of the Department of Steel and Mines, Government of Odisha.
• Core Activities: OMDC is primarily engaged in mining and production of iron ore and manganese ore.

Key Highlights

1. Date and Time of Announcement

• The eagerly anticipated Q3 results are scheduled to be announced on 12th February 2024.
• Mark your calendars and stay tuned for the official release.

2. Share Price Movement

• OMDC’s share price has been dynamic, reflecting market sentiments and company performance.
• The stock has witnessed a 52-week range from ₹2,295 to ₹8,344.
• On the day of writing, the share price stands at ₹7,097.90.
• Keep an eye on any fluctuations post the results announcement.

3. Market Expectations

• Analysts and investors eagerly await the results to assess OMDC’s financials.
• The company’s earnings will provide insights into its profitability and growth trajectory.

4. Strengths and Opportunities

• OMDC has effectively utilized its capital to generate profits, as evidenced by an improving Return on Capital Employed (RoCE) over the last two years.
• The turnaround potential of loss-making companies is an opportunity to watch out for.

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5. Threats

• Keep an eye on the overall market sentiment and any declining share price trends in the broader Nifty500 index.

6. Q3 Results 2024

• The eagerly awaited Q3 results are scheduled for February 12, 2024.

• Investors should closely monitor the company’s earnings and financial performance.

7. Mining Leases

• OMDC operates six iron ore and manganese ore mining leases in Barbil, Odisha.

• These include mines such as Dalki Manganese Mines, Kolha Roida Iron & Manganese Mines, and Thakurani Iron & Manganese Mines.

As OMDC unveils its Q3 results, investors should stay informed and make well-informed decisions. Remember, investing involves risks, and thorough research is essential.

FAQs:

Q: What is the date of Orissa Minerals Development Company’s Q3 2024 earnings announcement?

A: The Q3 2024 earnings will be announced on February 12, 2024.

Q: What are the key areas of interest for investors in the Q3 2024 earnings report?

A: Key areas of interest include revenue growth, profitability, operational efficiency, and progress on strategic initiatives.

Q: Where is Orissa Minerals Development Company listed?

A: Orissa Minerals Development Company is listed on the Calcutta Stock Exchange (CSE) and the National Stock Exchange (NSE), with trading permission on the Bombay Stock Exchange (BSE).