NMDC surged 4.63% to Rs 90.45 at 09:21 IST on BSE after the company scheduled a board meeting on 7 June 2016 to consider a proposal for buyback of equity shares.
The announcement was made after market hours yesterday, 2 June 2016.Meanwhile, the BSE Sensex was up 110.93 points, or 0.41%, to 26,954.07
On BSE, so far 1.61 lakh shares were traded in the counter, compared with an average volume of 2.87 lakh shares in the past one quarter. The stock hit high of Rs 91 and low of Rs 88.80 so far during the day. The stock hit a 52-week high of Rs 126.55 on 3 June 2015. The stock hit a 52-week low of Rs 75.20 on 12 February 2016.
The large-cap state-run iron ore miner has an equity capital of Rs 396.47 crore. Face value per share is Re 1.
NMDC announced reduction in the lump ore price by 10% to Rs 1,800 per tonne and prices of iron ore fines by 12.04% to Rs 1,460 per tonne with effect from yesterday, 2 June 2016. The announcement was made during market hours yesterday, 2 June 2016.
NMDC's net profit fell 59% to Rs 552.93 crore on 45.9% decline in net sales to Rs 1529.94 crore in Q4 March 2016 over Q4 March 2015.
The Government of India (GoI) holds 80% stake in NMDC (as per the shareholding pattern as on 31 March 2016). NMDC is India's single largest iron ore producer, presently producing about 30 million tonnes of iron ore from 3 fully mechanized mines.
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