NMDC trades ex-date for demerger; stock surges 14% on heavy volumes

NMDC shareholders will be eligible to get one share of NMDC Steel for every equity share held.

Shares of NMDC surged 14 per cent to Rs 107.25 in Thursday’s intra-day trade, on the back of heavy volumes. The stock turned ex-date for its steel business.

At 10:36 AM; NMDC traded 13.5 per cent higher at Rs 106.35 per share, from its opening level of Rs 93.70 (adjusted) apiece on the BSE, data shows. The average trading volumes on the counter jumped nearly 10-fold as around 21.89 million shares exchanged hands on the NSE and BSE.

NMDC fixed Friday, October 28, 2022 as record date to identify shareholders of NMDC (demerged company) to whom the shares