Friday, April 4, 2008

NMDC Soars On Setting Record Date For Stock Split

Meanwhile, the BSE Sensex was down 112.38 points, or 0.71%, to 15,720.17.

On BSE, 671 shares were traded in the counter. The scrip had an average daily volume of 1,721 shares in the past one quarter.

The stock hit a high of Rs 11,280 and a low of Rs 10,653 so far during the day. The stock had a 52-week high of Rs 16,584.10 on 6 November 2007 and a 52-week low of Rs 1900 on 4 April 2007.

The large-cap scrip had outperformed the market over the past one month till 3 April 2008, gaining 0.38% compared to the Sensex’s fall of 4.29%. It had underperformed the market in the past one quarter, declining 30.89% compared to Sensex’s decline of 23.47%.

The company’s current equity is Rs 132.16 crore. Face value per share is Rs 10.

The current price of Rs 10,800 discounts its Q3 December 2007 annualized EPS of Rs 293.04, by a PE multiple of 36.86.

National Mineral Development Corporation (NMDC) has fixed 21 April 2008 as the record date for a 10-for-1 stock split. The company announced the record date after trading hours on Thursday, 3 April 2008.

NMDC’s net profit rose 59.7% to Rs 968.22 crore on 53.5% growth in net sales to Rs 1623.60 in Q3 December 2007 over Q3 December 2006.

National Mineral Development Corporation primarily mines iron ore. It also dabbles in diamonds and limestone.

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