NMDC Stock

Life Insurance Corporation (LIC) on Wednesday said it has sold 2 per cent of its equity stake in state-owned NMDC, taking its total shareholding in the public sector unit to 11.69 per cent as of March 14. In a regulatory filing, LIC said its holding in NMDC has decreased from 13.69 per cent to 11.69 per cent during the period between December 29, 2022 and March 14, 2023, at an average price of Rs 119.37 a share. The sale of 2 per cent stake or a little over 5.88 crore shares in open market has fetched over Rs 700 crore to LIC. "Corporation's shareholding in NMDC Ltd has diluted from 40,14,72,157 to 34,25,97,574 equity shares decreasing its shareholding from 13.699 per cent to 11.690 per cent of the paid-up capital of the said company," LIC said. NMDC is engaged in exploration and production of iron ore.

A combined, around 7.5 million equity shares had changed hands and there were pending buy orders for 19 million shares on the NSE and BSE till 10:16 AM

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The last date for submitting queries by interested bidders is December 29, 2022, and that for submission of bids is January 27, 2023 as per the expression of interest (EoI)

NMDC shares drop 5.3%; ONGC, Coal India and Bharat Electronics likely to see inflows of $31-46 million on account of the rebalancing

CLOSING BELL: The NSE Nifty50, held the crucial 16,400-mark to shut shop at 16,416, down 153 points

The overall rise in production was a pleasant surprise, given the lockdown in Q1FY21

Rally fuelled by global rise in iron prices; stock trading at P/E multiple of 13x

For the quarter ended June 2020, NMDC reported a 55 per cent slump in its net profit at Rs 533 crore.

Steel plant demerger, improved return ratios for mining business, high dividend yield key positives

However, with the onset of monsoon, the outlook for steel demand remains subdued in the September quarter

While domestic outlook was seen improving post recent iron ore price hikes and rising steel output, coronavirus could curb gains

rom Nifty option chain, the next support level for Nifty is seen at 12,000

Tata Steel, Vedanta and SAIL have seen sharp fall in their stock prices in the recent months.

Analysts see improving volumes, earnings growth ahead as Karnataka pricing issues resolve