Rs 8.60 Dividend, 10:1 Split: Mining PSU Issues New Record Date For Dividend, Buy For TP Rs 290

Mining sector PSU NMDC Ltd today revised record date for its upcoming meeting of Board of Directors from May 21, 2024 to May 27, 2024. Current market price of NMDC Ltd share on BSE is Rs 276.45 per share. NMDC share hit fresh 52-week high in trade today. NMDC shares soared 160% in last 1-year and 64% in last 6-months. Brokerage firm Motilal Oswal has issued buy call to NMDC Ltd share with target price of Rs 290 per share and keep stop loss at Rs 258.

It is worth noting that FII/FPI have increased holdings from 9.91% to 12.60% in March 2024 quarter. Number of FII/FPI investors soared from 393 to 613 in March 2024 quarter. Life Insurance Corporation Of India has 6.71% stake in NMDC Ltd with 196,718,119 shares of the company. More details below:

NMDC Ltd To Consider Financial Results, Dividend: According to the BSE filing of NMFC dated May 17, "With reference to our earlier letter of even number dated 10.05.2024 on the captioned subject, it is now informed that the Board meeting earlier scheduled on 21st May 2024 has been rescheduled and the same will now be held on Monday, 27th May 2024."

NMDC Share Performance & Return: The 52-week high price of NMDC Ltd share on BSE is Rs 277.70 per share (as on 17/05/2024) and 52-week low price is Rs 103.75 per share (as on 19/05/2023), respectively. Its market capitalisation is Rs 81,016.60 crore. NMDC has a PE of 12.57 and ROE of 26.65. NMDC shares soared over 8% in last 1-week, gave return of 15% in last 1-month, rallied 135% in last 2-years, soared 82% in last 3-years, and gave return of 274% in last 5-years.

Motilal Oswal On NMDC Ltd Share: According to the analyst, NMDC is strong uptrend within metal sector and trading at multi months high territory. Technically the stock is forming higher lows since the past eight weeks with base of the stock is shifting higher. On daily scale, NMDC gave Inverse Head & Shoulder pattern breakout above 255 zones and gradually moving higher. Momentum indicator Relative Strength Index (RSI) is also moving higher which indicates momentum to continue in coming sessions.

NMDC Ltd Dividend History: The PSU announced 44 dividends since August 28, 2002. In last 1-year, NMDC announced an equity dividend amounting to Rs 8.60 per share. At the current share price of Rs 255.30, NMDC Ltd.'s dividend yield is 3.11%.
NMDC Stock Split History: NMDC Ltd. split face value of its share once since April 10, 2008. NMDC Ltd. last split the face value of its shares from Rs 10 to Re 1 in 2008. NMDC share quoted ex-split from April 10, 2008.

NMDC Bonus Share History: NMDC Ltd. offered 1 bonus issue since May 21, 2008. The last Bonus that NMDC Ltd. declared was in the ratio 2:1 with ex-bonus date set as May 21, 2008.

NMDC Q3 Results: The company declared a surge of 62.6% in its consolidated net profit for the quarter ended December 2023 as against the net profit in the corresponding quarter, amid robust domestic steel demand. The company's earnings jumped to Rs 1,469.73 crore for the three periods ended December 2023 as compared to Rs 903.89 crore announced in the similar period last year. Sequentially, the PSU's profit climbed 43% from Rs 1024.86 crore in the preceding quarter. NMDC's consolidated revenue from operations soared 45% Year-on-Year to Rs 5409.90 crore and rallied 34.7% QoQ.

About: NMDC, a government-owned company, is India's largest iron ore producer. NMDC is operating four iron ore mechanised mines viz., Bailadila Iron Ore Mines - Kirandul Complex (Dep-14, 14 NMZ, 11B and 11C), Bailadila Iron Ore Mine - Bacheli Complex (Dep-5,10 and 11A) in Chhattisgarh, Donimalai Iron Ore Mine and Kumaraswamy Iron Ore Mine in Karnataka. The company also produces and sells diamonds, sponge iron, and wind power.

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