NMDC lost 0.21% to Rs 170.25 at 10:00 IST on BSE
as the stock turned ex-dividend today, 22 November 2012, for interim
dividend of Rs 2 per share for the year ending 31 March 2013.
Meanwhile, the BSE Sensex was up 64.97 points or 0.35% at 18,525.35.
On BSE, 13,000 shares were traded in the counter as against average daily volume of 47,468 shares in the past one quarter.
The stock hit a high of Rs 173 and a low of Rs 167.50 so far during the day. The stock had hit a 52-week low of Rs 136.15 on 20 December 2011. The stock had hit a 52-week high of Rs 206.35 on 16 February 2012.
The stock had underperformed the market over the past one month till 21 November 2012, falling 8.38% compared with the Sensex's 1.19% decline. The scrip had also underperformed the market in past one quarter, declining 5.82% as against Sensex's 3.22% rise.
The large-cap company has equity capital of Rs 396.47 crore. Face value per share is Re 1.
Before turning ex-dividend, the stock offered a dividend yield of 1.17% based on the closing price of Rs 170.60 on Wednesday, 21 November 2012.
The Cabinet Committee on Economic Affairs (CCEA) on 25 October 2012 approved the disinvestment of Government of India's (GoI) 10% paid-up equity capital in NMDC through an Offer for Sale (OFS) of shares through the separate window provided by the stock exchanges for this purpose. Following the stake sell-off, the GoI's equity holding in NMDC will come down to 80%. The Government of India currently holds 90% stake in NMDC.
NMDC's net profit fell 14.5% to Rs 1678.62 crore on 14.7% decline in net sales to Rs 2611.84 crore in Q2 September 2012 over Q2 September 2011.
State-run NMDC is India's single largest iron ore producer and exporter, presently producing about 30 million tonnes of iron ore from 3 fully mechanized mines in Chhattisgarh and Karnataka.
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