NMDC Group Kept at Buy as FAB Notes Q2 Results

04:50 AM EDT, 08/04/2026 (MT Newswires) -- FAB Securities kept NMDC Group's (ADX:NMDC) investment view and price target unchanged after taking note of the company's second-quarter earnings. "We maintain our BUY rating on NMDC Group with a target price of AED 34.00. NMDC Group demonstrated strong growth momentum in 2Q26, delivering higher revenues, margin expansion, and improved profitability on both a YOY and QOQ basis. The performance was driven by operational resilience, execution efficiencies, disciplined cost management, and high-margin project delivery. This reflects the Group's ability to execute complex regional infrastructure projects at scale through the efficient deployment of its specialized engineering and marine assets," analysts wrote on Monday. For the three-month period, the energy and marine services, engineering, procurement and construction group logged a 33.3% yearly increase in attributable net profit to 1.18 billion Emirati dirhams, which surpassed FAB's 719 million-dirham forecast. Revenue, meanwhile, rose 4.7% year over year to 7.49 billion dirhams, against the research firm's forecast of 7.25 billion dirhams.