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NMDC Shares to Trade Ex-bonus on December 27, 2024

Updated on: Dec 26, 2024, 2:50 PM IST
NMDC will trade ex-bonus tomorrow, following the announcement of a 2:1 bonus issue. This bonus issue's record date is December 27, 2024.
NMDC Shares to Trade Ex-bonus on December 27, 2024
ShareShare on 1Share on 2Share on 3Share on 4Share on 5

NMDC will issue bonus shares in a 2:1 ratio, with the record date of December 27, 2024. Shareholders holding 1 share will receive 2 bonus shares. As per the news reports, the company further informed that the date of allotment is December 30, 2024, and the shares will be made available for trading from December 31, 2024.

Q2 FY 2025 Financial Highlights

National Mineral Development Corporation (NMDC) reported strong financial performance for the second quarter of FY 2024-25, with a notable 17% year-on-year increase in net profit, which reached ₹1,196 crore.

The company’s revenue also saw a significant growth of 22.54%, rising to ₹4,918.91 crore, driven mainly by a rise in iron ore segment revenues. Despite a rise in operating expenses by 25%, primarily due to higher royalty and levies, NMDC managed to maintain its profitability.

These results reflect the company’s robust operational performance and strategic growth in mining.

About NMDC

National Mineral Development Corporation (NMDC), a Navratna Public Sector Enterprise under the Ministry of Steel, Government of India is the single largest producer of iron ore in India. It owns and operates highly mechanised iron ore mines in Chhattisgarh and Karnataka and has its registered office in Hyderabad, Telangana.

NMDC is considered to be one of the low-cost producers of iron ore in the world. It also operates the only mechanised diamond mine in India at Panna, Madhya Pradesh. The Company is producing about over 45 MTPA of iron ore from its major iron producing units i.e. from Bailadila Sector in Chhattisgarh and Donimalai in Bellary-Hospet region in Karnataka. NMDC envisages to have an iron ore production capacity of 100 MNT by FY30.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Dec 26, 2024, 9:05 AM IST

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