Support and Resistance Levels
Past performance
About Orissa Minerals Development Company Ltd Orissa Minerals Development Company Ltd (OMDC), established in 1918, is one of India's oldest iron ore mining companies, primarily involved in mining and producing iron and manganese ore, with additional production of sponge iron. Its operations are centered around six mining leases located in Barbil, Keonjhar district, Odisha, including notable mines like Thakurani and Bhadrasahi. Initially part of the Bird Group, OMDC became a government-managed entity following nationalization and later a subsidiary of Eastern Investments Ltd, which is now under Rashtriya Ispat Nigam Limited (RINL).
OMDC has successfully navigated industry recessions and expanded its operations, including setting up a sponge iron plant and commencing direct iron ore exports. Recent developments include obtaining necessary clearances to resume mining operations and dispatching minerals from its mines. With its extensive lease area covering over 4,365 hectares, OMDC remains a significant player in India's mining sector, benefiting from government support and strategic restructuring to enhance operational efficiency and profitability.