NMDC soars on setting record date for bonus

NMDC was locked at upper limit of 5% to Rs 1416.25 at 12:45 IST on BSE after setting record date for 2:1 bonus issue.

Meanwhile, the BSE Sensex was down 87.54 points, or 0.50%, to 17,290.92.

On BSE, 22,556 shares were traded in the counter. The scrip had an average daily volume of 6,343 shares in the past one quarter.

The stock hit a high of Rs 1416.25 and a low of Rs 1359.80 so far during the day. The stock had a 52-week high of Rs 1658.41 on 6 November 2007 and a 52-week low of Rs 197.50 on 14 May 2007.

The mid-cap scrip had outperformed the market over the past one month till 29 April 2008, gaining 30.36% compared to the Sensex's return of 11.08%. It had also outperformed the market in the past one quarter, rising 31.36% compared to Sensex's decline of 2.14%.

The company's current equity is Rs 132.16 crore. Face value per share is Rs 2.

National Mineral Development Corporation (NMDC) has fixed 22 May 2008 as the record date for issue of bonus shares in the ratio of 2:1. The company announced the record date during trading hours today, 30 April 2008.

NMDC's net profit rose 59.7% to Rs 968.22 on 53.5% growth in net sales to Rs 1623.60 crore in Q3 December 2007 over Q3 December 2006.

National Mineral Development Corporation primarily mines iron ore. It also dabbles in diamonds and limestone