NMDC Bonus Issue: Record And Allotment Date Announced — Check Details Here
NMDC Ltd. has announced that Dec. 27 will be the record date to determine the eligibility of shareholders for the issuance of bonus shares.
The bonus issue on Friday will on be in a 2:1 ratio, meaning two new equity shares will be issued for every one existing share held. The public sector undertaking will allot a total of 586 crore equity shares of Re 1 each.
The record date is the cutoff date set by a company to identify shareholders eligible to receive corporate benefits like bonus shares.
Shareholders must ensure the stock is delivered to their accounts by Thursday on a T+1 settlement basis to qualify for the bonus issue. The company also confirmed that it has received in-principle approval from both the BSE and the National Stock Exchange on Dec. 16 for the proposed bonus issue.
The allotment date for the bonus shares is set for Dec. 30. These shares will be available for trading next Tuesday in line with SEBI's mandates.
Shares of NMDC have advanced 1.33% on a year-to-date basis. Thirteen out of the 22 analysts tracking the company have a 'buy' rating on the stock, three recommend 'hold' and six suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price targets is Rs 243.21, implying a potential upside of 14.5%.
Q2 Earnings
NMDC's net profit rose in the second quarter of financial year 2025, but missed analysts' estimates.
The iron ore miner's net profit increased 17% year-on-year to Rs 1,196 crore in the quarter ended September. Revenue rose 23% to Rs 4,919 crore from 4,014 crore in the year-ago period.
The earnings before interest, taxes, depreciation and amortisation was up 16% to Rs 1,386 crore, while the margins narrowed to 28.2% versus 29.7% in the year-ago period.
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