Tue Dec 31 04:30:00 UTC 2024: ## NMDC Shares Dip After Bonus Share Announcement
**Mumbai, India** – Shares of the National Mineral Development Corporation (NMDC) experienced a 3.17% decline on Monday, trading at ₹67.15 by 1:14 PM on the Bombay Stock Exchange (BSE). This downturn follows the company’s announcement of a substantial bonus share allotment.
NMDC, a state-owned mining and exporting giant, will issue 58,61,21,170 bonus equity shares at a ratio of 2:1. This means shareholders holding one equity share as of the record date, December 27, 2024, will receive two additional bonus shares. While the bonus issue is expected to increase the number of outstanding shares, the market reacted negatively to the news, leading to the share price drop. The company’s diverse mining operations, which include iron ore, diamonds, and other minerals, were not directly implicated in the share price movement.
First Piper 