August 10, 2017 / 4:28 AM / 14 days ago

BUZZ-India's NMDC gains on Q1 earnings beat

** Iron ore miner NMDC Ltd's shares rise as much as 2.9 pct to 129.75 rupees

** Q1 profit rises about 36 pct to 9.69 bln rupees ($151.3 mln), beating analysts' average estimate of 8.64 bln rupees, according to Thomson Reuters data

** Profit growth helped by higher realized prices of iron ore and lower non-mining expenses

** "We do not expect any further cut in iron ore prices by NMDC," IDFC Securities writes in a note, adding higher iron ore realization and volume were key positives ($1 = 64.0400 Indian rupees)

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