Meanwhile, the BSE Sensex was up 14.64 points, or 0.08%, to 19,438.74
On BSE, 1.08 lakh shares were traded in the counter as against an average daily volume of 45,262 shares in the past one quarter.
The stock hit a high of Rs 157.95 and a low of Rs 150.15 so far during the day. The stock had hit a 52-week high of Rs 206.35 on 16 February 2012. The stock had hit a 52-week low of Rs 136.15 on 20 December 2011.
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The stock had underperformed the market over the past one month till 7 December 2012, falling 12.95% compared with the Sensex's 2.76% rise. The scrip had also underperformed the market in past one quarter, sliding 15.22% as against Sensex's 9.84% rise.
The large-cap state-run company has an equity capital of Rs 396.47 crore. Face value per share is Re 1.
Reportedly, the empowered group of ministers (EGoM) headed by Finance Minister P Chidambaram will meet today, 10 December 2012 to fix the price for selling a 10% stake in state-run iron ore miner. The auction will be take place in this week, reports added.
The Cabinet Committee on Economic Affairs on 25 October 2012 approved disinvestment of 10% government stake in NMDC through "Offer for Sale" (OFS) route, also known as auction route. The NMDC share sale will be the second disinvestment by the government in this fiscal after the government last month sold its 5.58% stake for about Rs 807 crore in Hindustan Copper.
As on 30 September 2012, the government owned 90% stake in NMDC. In February 2008, the government had raised over Rs 9000 crore through divesting an 8.38% stake in NMDC at Rs 300 per share through a follow on public offer.
The government had set itself a target of raising Rs 30000 crore in the year ending 31 March 2013 through the disinvestment process.
NMDC's net profit fell 14.5% to Rs 1678.62 crore on 14.7% decline in net sales to Rs 2611.84 crore in Q2 September 2012 over Q2 September 2011.
State-run NMDC is India's single largest iron ore producer and exporter, presently producing about 30 million tonnes of iron ore from 3 fully mechanized mines in Chhattisgarh and Karnataka.
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