NMDC rose 0.63% to Rs 175.65 at 10:16 IST on BSE after the company reported rise in iron ore production and sales in five months upto August 2014 over the previous corresponding year ago period.
The announcement was made after market hours on Tuesday, 2 September 2014.
Meanwhile, the BSE Sensex was up 86.67 points, or 0.32%, to 27,106.06
On BSE, so far 43,503 shares were traded in the counter, compared with an average volume of 2.47 lakh shares in the past one quarter.
The stock hit a high of Rs 176.20 and a low of Rs 174.55 so far during the day. The stock hit a 52-week high of Rs 196.15 on 6 June 2014. The stock hit a 52-week low of Rs 116.70 on 4 September 2013.
The stock had underperformed the market over the past one month till 2 September 2014, rising 2.86% compared with 6.04% rise in the Sensex. The scrip also underperformed the market in past one quarter, falling 0.8% as against Sensex's 9.46% rise.
The large-cap company has an equity capital of Rs 396.47 crore. Face value per share is Re 1.
On a provisional basis, NMDC said that total iron ore production rose 11.72% to 12.10 million tonne in five months upto August 2014 from 10.83 million tonne in five months upto August 2013. Sales rose 18.61% to 13.57 million tonne in five months upto August 2014 from 11.44 million tonne in five months upto August 2013.
Meanwhile, NMDC kept price of iron ore unchanged for September 2014. NMDC said it has rolled over the August 2014 price of lump ore (Rs 4600 per tonne) and fines (Rs 3160 per tonne) to the month of September 2014.
NMDC said that the company has subscribed to its full entitlement of shares of the Rights Offer of Legacy Iron Ore. Accordingly, after the allotment of shares by Legacy, NMDC is holding 115.34 crore shares with a voting power of 78.56% in Legacy.
NMDC's net profit surged 21.8% to Rs 1915.01 crore on 18.5% growth in total income to Rs 4018.55 crore in Q1 June 2014 over Q1 June 2013.
State-run NMDC is India's single largest iron ore producer and exporter. The Government of India (GoI) holds 80% stake in NMDC (as per the shareholding pattern as on 30 June 2014)
Source: Business Standard
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