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Bonus Share: State-run NMDC Ltd on Monday approved a bonus issue of equity shares in the ratio of 2:1. In a meeting, the board members of the company approved this proposal along with the financial results of the second quarter. According to the exchange filing, eligible shareholders will be given two NMDC shares for every one existing share. NMDC will issue more than 586 crore bonus shares. It will be submitted on or before January 10, 2025. Let us tell you that the company is giving bonus shares after last 16 years. Earlier in the year 2008, NMDC had issued 2 bonus shares instead of one share. NMDC bought back its equity shares in 2016, 2019 and 2020. NMDC shares fell during trading today on Monday. The company's shares closed at Rs 233.50 today.
company's share position
It has fallen nearly 19 percent from its current peak of Rs 286. The stock has increased by 2 percent in five days and fallen by 9 percent in six months. The company's shares are up 11% so far this year and 34% in a year. The company's shares have increased by 135 percent in five years.
September quarter results
NMDC has declared its July to September quarter results on Monday, November 11. The company reported nearly 17 per cent increase in net profit at ₹1,195.63 crore compared to Q2FY24-25. This stood at ₹1,024.86 crore in the same quarter last year, according to a BSE filing on Monday. The state-owned mining company reported a 22.54 per cent rise in revenue from core operations in the second quarter to ₹4,918.91 crore as against ₹4,013.98 crore in the same period last year.