State-run NMDC Ltd on Tuesday finalised record and deemed dates for allotment of bonus equity shares in a 2:1 ratio. "With reference to our previous intimation dated November 11, 2024 and on receipt of approval of shareholders at the Extraordinary General Meeting held on December 12, 2024, we wish to inform you that the Company has received in-principle approval under Regulation 28(1) of SEBI LODR, 2015, from BSE Ltd and National Stock Exchange of India Ltd vide their letters dated December 16, 2024, for issue and proposed allotment of 586,12,11,700 Equity shares of Re 1/- each as bonus shares in the ratio of 2 (two) new equity shares for every 1 (one) existing equity share held in the Company," it stated in a BSE filing.
The company has fixed Friday, December 27, 2024, as the record date to determine the eligibility of shareholders for issuance of the said bonus shares, it added.
"The deemed date of allotment shall be Monday, December 30, 2024, for the purpose of allotment of said Bonus Shares of the Company (ISIN No.: INE584A01023). Further, these Bonus Shares will be made available for trading on the next working date of allotment i.e. Tuesday, December 31, 2024, in accordance with SEBI circular dated September 16, 2024," NMDC also said.
On the stock-specific front, NMDC was last seen trading 1.89 per cent lower at Rs 228.25. At this price, the counter has climbed 13.16 per cent in 2024 so far compared to an 11.66 per cent rise in benchmark BSE Sensex.
Around 1.69 lakh shares changed hands on BSE at the time of writing this story. The figure was lower than the two-week average volume of 4.99 lakh shares. Turnover on the counter came at Rs 3.90 crore, commanding a market capitalisation (m-cap) of Rs 66,935.04 crore.
The counter traded lower than the 5-day, 10-, 20-, 30-, 150-day and 200-day simple moving averages (SMAs) but higher than the 50-day and 100-day SMAs. The scrip's 14-day relative strength index (RSI) came at 45.33. A level below 30 is defined as oversold while a value above 70 is considered overbought.
As per BSE, the company's stock has a price-to-equity (P/E) ratio of 10.78 against a price-to-book (P/B) value of 2.37. Earnings per share (EPS) stood at 21.18 with a return on equity (RoE) of 22.01.
Operating under the Ministry of Steel, NMDC is a 'Navratna' public sector enterprise and owns and operates highly mechanized iron ore mines in Chhattisgarh and Karnataka. As of September 2024, the government holds a 60.79 per cent stake in the PSU.