150% Dividend: Mining PSU To Trade Ex-Dividend Soon, Buy Suggested For TP Rs 286: Nuvama

Mining sector PSU NMDC Ltd shares will trade ex-dividend for Rs 1.50 per share next week on September 17, 2024. Last trading price of NMDC shares on BSE is Rs 220.70 per share with gain of 2.41% as on September 13, 2024. NMDC shares witnessed decline of 16.80% in last 3-months and gained 55% in last 1-year. The company's market capitalisation stood at Rs 64,678.47 crore. LIC has 6.56% stake in NMDC. Check key details below:

NMDC Dividend: As per the BSE filing of NMDC, the state-run company earlier this year in May recommended a final dividend of Rs 1.50 (150%) each of the face value of Re 1 each. "Recommended the payment of Final Dividend of Rs. 1.50 per share on the face value of Rs. 1/- each for the financial year 2023-24...," the company had said in a filing in May."

NMDC Dividend History: The PSU announced a total of 45 dividends since August 28, 2002. In last 1-year, NMDC announced an equity dividend amounting to Rs 5.75 per share. At the current share price of Rs 220.70, NMDC offers a dividend yield of 2.61%.

NMDC Shareholding: FII/FPI have increased holdings from 12.60% to 12.76% in June 2024 quarter. Number of FII/FPI investors increased from 613 to 681 in June 2024 quarter. Mutual Funds have increased holdings from 6.26% to 6.41% in June 2024 quarter. Number of MF schemes increased from 31 to 35 in June 2024 quarter. Institutional Investors have increased holdings from 26.69% to 27.07% in June 2024 quarter. Life insurance corporation of India (LIC) has 6.56% stake in NMDC with 192,211,210 shares of the company.

NMDC Share Performance & Return: The 52-week high price of NMDC Ltd share on BSE is Rs 286.35 per share (as on 21/05/2024) and 52-week low price is Rs 135.30 per share (as on 09/10/2023), respectively. Its market capitalisation is Rs 81,016.60 crore. NMDC has a PE of 12.57 and ROE of 26.65. NMDC shares soared over 8% in last 1-week, gave return of 15% in last 1-month, rallied 135% in last 2-years, soared 82% in last 3-years, and gave return of 274% in last 5-years.

Nuvama Gives Buy Call To NMDC Shares: The analyst has given buy call to NMDC Ltd shares with target price of Rs 286 for 12-month target time. According to the brokerage, "the probability of any major decline in NMDC's prices is very low as demand is set to improve. Besides a recovery in global iron ore prices, we forecast NMDC's iron ore volume shall recover in H2FY25 with a seasonally good second half along with absence of workers' strike, which hurt volumes in Q1FY25."

NMDC Stock Split History: NMDC Ltd. split face value of its share once since April 10, 2008. NMDC Ltd. last split the face value of its shares from Rs 10 to Re 1 in 2008. NMDC share quoted ex-split from April 10, 2008.

NMDC Bonus Share History: NMDC Ltd. offered 1 bonus issue since May 21, 2008. The last Bonus that NMDC Ltd. declared was in the ratio 2:1 with ex-bonus date set as May 21, 2008.

About: NMDC, a government-owned company, is India's largest iron ore producer. NMDC is operating four iron ore mechanised mines viz., Bailadila Iron Ore Mines - Kirandul Complex (Dep-14, 14 NMZ, 11B and 11C), Bailadila Iron Ore Mine - Bacheli Complex (Dep-5,10 and 11A) in Chhattisgarh, Donimalai Iron Ore Mine and Kumaraswamy Iron Ore Mine in Karnataka. The company also produces and sells diamonds, sponge iron, and wind power.

Disclaimer:

The stock has been picked from the brokerage report of Nuvama. Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.