NMDC soars on possible price hike
On The scrip had touched a low of Rs 11505 so far during the day. The stock had hit a 52-week high of Rs 16584.10 on 6 November 2007 and a 52-week low of Rs 1955.10 on 26 April 2007.
The scrip had outperformed the market in the one month to 7 April 2008, rising 13.59% as against the Sensex's 1.37% fall. It had also outperformed the market in the past three months, slipping 21.26% against the Sensex's 24.51% slide.
The state-run mining firm has an equity capital of Rs 132.16 crore. Face value per share is Rs 10.
At the current price of Rs 12237.40, the scrip trades at a PE multiple of 41.76, based on Q3 December 2007 annualised EPS of Rs 293.04.
NMDC, which accounts for about 15% of India's iron ore production, sells contracted iron ore at prices based on those of the world's top miners -- Brazilian miner Vale, BHP Billiton and Rio Tinto.
Meanwhile, NMDC has fixed 21 April 2008 as the record date for a 10-for-1 stock split.
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.