Sat Dec 28 01:56:18 UTC 2024: ## NMDC Shares Dip After Ex-Bonus Trading Begins
**Mumbai, Dec 29** – NMDC Ltd. shares experienced a slight dip on Friday, the first day of ex-bonus trading, despite initially seeing a modest rise. The stock opened higher, reaching a high of Rs 72.10 after adjusting for the 2:1 bonus issue, but subsequently fell to Rs 70.99 by 10:02 a.m., a 0.69% decrease. This contrasts with the NSE Nifty 50 Index’s 0.73% gain.
The bonus issue, which will see the allotment of 586 crore equity shares, was announced earlier. December 27th served as the record date, with shareholders needing to have their shares credited to their demat accounts by Thursday to be eligible. NMDC received in-principle approval from both the BSE and NSE on December 16th. The bonus shares are set to be allotted on December 30th, with trading resuming on Tuesday.
High trading volume, at 3.9 times the 30-day average, was observed. Despite the initial dip, the stock’s performance over the last 12 months shows a 5.72% increase. Analyst sentiment remains mixed, with 13 out of 22 tracked by Bloomberg recommending a ‘buy’, three a ‘hold’, and six a ‘sell’. The average 12-month price target suggests a potential upside of 242.9%.
First Piper 