NMDC Share Price in Focus; Trades Ex-bonus Today, December 27, 2024

NMDC announced a bonus issue of 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 FY25 Financial Highlights

National Mineral Development Corporation (NMDC) reported strong financial results for Q2 FY 2024-25, with a 17% YoY increase in net profit, reaching ₹1,196 crore.

Revenue grew by 22.54% to ₹4,918.91 crore, mainly driven by higher iron ore segment revenues. Although operating expenses rose by 25%, largely due to increased royalties and levies, NMDC maintained strong profitability.

The results highlight the company’s solid operational performance and strategic growth in the mining sector.

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 its registered office is 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.

Share Price Performance

On December 27, 2024, NMDC share price traded 0.64% higher at ₹71.94 at 9:30 AM on the NSE.

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.