NMDC tumbles ex-dividend

NMDC fell 10.52% to Rs 83.40 at 9:27 IST on BSE on turning ex-dividend today, 24 February 2016, for interim dividend of Rs 9.50 per share for the year ending 31 March 2016.

Meanwhile, the BSE Sensex was down 108.71 points, or 0.46%, to 23,301.47 .

On BSE, so far 3.64 lakh shares were traded in the counter, compared with an average volume of 2.93 lakh shares in the past one quarter. The stock hit a high of Rs 85.10 and a low of Rs 81.80 so far during the day. The stock hit a 52-week high of Rs 145 on 28 February 2015. The stock hit a 52-week low of Rs 75.20 on 12 February 2016. The stock had outperformed the market over the past one month till 23 February 2016, rising 15.99% compared with 4.20% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 0.70% as against Sensex's 9.33% fall.

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

Before turning ex-dividend, the stock offered a dividend yield of 10.19% based on the closing price of Rs 93.20 yesterday, 23 February 2016.

NMDC's net profit fell 58.9% to Rs 655.04 crore on 48.5% decline in net sales to Rs 1517.04 crore in Q3 December 2015 over Q3 December 2014.

The Government of India (GoI) holds 80% stake in NMDC (as per the shareholding pattern as on 31 December 2015). NMDC is India's single largest iron ore producer, presently producing about 30 million tonnes of iron ore from 3 fully mechanized mines.

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