NMDC gains on bargain hunting

NMDC rose 1.41% to Rs 118.85 at 10:41 IST on BSE, with the stock gaining on bargain hunting after falling 11.31% in prior six trading days.

Meanwhile, the S&P BSE Sensex was down 49.93 points or 0.19% at 26,763.49

On BSE, so far 51,480 shares were traded in the counter as against average daily volume of 2.34 lakh shares in the past one quarter.

The stock hit a high of Rs 119.50 and a low of Rs 116 so far during the day. The stock had hit a 52-week high of Rs 196.15 on 6 June 2014. The stock had hit a 52-week low of Rs 115.40 on 4 June 2015.

The stock had underperformed the market over the past one month till 4 June 2015, dropping 9.71% compared with 2.46% decline in the Sensex. The scrip had also underperformed the market in past one quarter, declining 11.68% as against Sensex's 8.74% fall.

The large-cap company has an equity capital of Rs 396.47 crore. Face value per share is Re 1.

Shares of NMDC had declined 11.31% in six trading days to settle at Rs 117.20 yesterday, 4 June 2015 from a recent high of Rs 132.15 on 27 May 2015.

NMDC after market hours yesterday, 4 June 2015 said that its production of iron ore (provisional) upto the month of May 2015 declined to 4.14 million tonnes from production of 4.94 million tonnes upto the month of May 2014. Sales of iron ore upto the month of May 2015 fell to 4.54 million tonnes from sales of 5.74 million tonnes upto the month of May 2014.

NMDC's net profit fell 31.3% to Rs 1347.09 crore on 20.3% decline in total income to Rs 3554.77 crore in Q4 March 2015 over Q4 March 2014.

The Government of India (GoI) held 80% stake in NMDC (as per the shareholding pattern as on 31 March 2015).

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