Tue Dec 31 04:30:00 UTC 2024: ## NMDC Stock Dips Despite Bonus Share Issue
**Mumbai, December 27, 2024** – NMDC’s share price experienced a decline today, despite the company issuing bonus shares at a 2:1 ratio. While the stock opened higher at ₹71.84 on the NSE, reaching an intraday high of ₹72.10, profit-booking quickly led to a downturn.
This is NMDC’s first bonus share issuance in over 16 years, with the last occurring on May 21, 2008. The company had previously received in-principle approval from the BSE and NSE for the issuance of 586,12,11,700 bonus shares, at a ratio of two new shares for every one existing share. Today, December 27th, was designated as the record date to determine eligible shareholders.
Despite the positive news of the bonus share distribution, investors appeared to engage in profit-taking, resulting in a net decline for the day. Analysts advise investors to seek professional advice before making investment decisions.
First Piper 