NMDC Share Price Declines As Stock Turns Ex-Dividend
The board of NMDC on March 17 announced its first dividend of Rs 2.30 per share at a face value of Rs 1 for financial year 2025.
Shares of NMDC Ltd. declined nearly 4% on Friday as the stock turned ex-dividend for its upcoming dividend payouts. Investors holding NMDC shares at the end of the record date will be eligible for the announced dividends, which are set to be paid out next month.
The board of NMDC on March 17 announced its first dividend of Rs 2.30 per share at a face value of Rs 1 for financial year 2025.
In the third quarter of the current fiscal, NMDC reported a net profit of Rs 1,882 crore, marking a 26.7% increase, compared to Rs 1,484 crore for the same period last year.
The company's revenue surged by 21.4% to Rs 6,567.8 crore for the quarter under review, up from Rs 5,409.9 crore in the previous year. Earnings before interest, tax, depreciation, and amortisation rose to Rs 2,372 crore, reflecting an 18.17% growth from Rs 2,007.2 crore in the corresponding quarter of the previous year.
However, NMDC's margin slightly contracted to 36.11% for the quarter ended December, from 37.1% in the same period of fiscal 2024.
NMDC Share Price Today
Shares of NMDC fell as much as 3.82% to Rs 66.16 apiece. It pared losses to trade 2.18% lower at Rs 67.29 apiece, as of 10:17 a.m. This compares to a 0.31% advance in the NSE Nifty 50.
The stock has fallen 2.85% in the last 12 months. Total traded volume so far in the day stood at 1.9 times its 30-day average. The relative strength index was at 55.
Out of 23 analysts tracking the company, 13 maintain a 'buy' rating, four recommend a 'hold' and six suggest 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 9.3%.
