NMDC Board Declares Dividend Of Rs 2.30 Per Share For Fiscal 2025
The board of NMDC Ltd. on Monday announced its first dividend of Rs 2.30 per share at a face value of Rs 1 for the financial year 2025.
The company has fixed the record date for the dividend as March 21, according to an exchange filing on Monday.
Earlier, the Ministry of Steel appointed Amitava Mukherjee as chairperson and managing director of NMDC Ltd., effective March 6.
Mukherjee, a cost accountant and senior officer from the 1996 Indian Railway Accounts Services batch, is recognised for leading NMDC to achieve its highest-ever turnover and net worth in the company's history.
Q3 Performance
NMDC's net profit surged to Rs 1,882 crore, representing a 26.7% rise for the third quarter of the current fiscal, as compared to Rs 1,484 crore for the same period last year.
The public sector enterprise's revenue soared by 21.4% to Rs 6,567.8 crore for the quarter under review, as against Rs 5,409.9 crore for the year ago period.
Its earnings before interest, tax, depreciation and amortisation rose to Rs 2,372 crore, denoting 18.17% growth for the October-December 2024 quarter, from Rs 2,007.2 crore for the same quarter in the corresponding year.
Its margin slightly contracted to 36.11% for the quarter ended December from 37.1% in the same period of fiscal 2024.
Shares of NMDC closed 1.74% higher at Rs 64.91 apiece on the National Stock Exchange, compared to a 0.5% rise in the benchmark Nifty. The stock has fallen 3.93% in the last 12 months.
Of the 23 analysts tracking the company, 13 have a 'buy' rating on the stock, four recommend 'hold' and six suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 13.4%.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
