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NMDC strengthens on acquiring additional 30% stake in Legacy Iron Ore

02 Sep 2014 Evaluate

NMDC is currently trading at Rs. 172.45, up by 1.55 points or 0.91% from its previous closing of Rs. 170.90 on the BSE.

The scrip opened at Rs. 173.40 and has touched a high and low of Rs. 173.40 and Rs. 171.90 respectively. So far 46688 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 196.15 on 06-Jun-2014 and a 52 week low of Rs. 116.70 on 04-Sep-2013.

Last one week high and low of the scrip stood at Rs. 174.00 and Rs. 167.50 respectively. The current market cap of the company is Rs. 68331.88 crore.

The promoters holding in the company stood at 80.00% while Institutions and Non-Institutions held 17.20% and 2.79% respectively.

NMDC has acquired additional 30% stake in Australian mineral exploration subsidiary Legacy Iron Ore at a cost of AUD 12.3 million. Following the stake acquisition, the company’s stake in its Australian subsidiary has increased to 78.56% from 48.82%.

In 2011, NMDC had first acquired 50 per cent equity of Legacy, at 8 cents a share aggregating to AUD 18.89 million. Legacy needed to raise the equity funds of AUD 25 million for advancing its development activity at the Mt Bevan iron ore project as also repayment of an AUD 3-million Citibank loan and further exploration as well as development work across its other assets.

NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.

NMDC Share Price

89.78 2.60 (2.98%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Coal India 438.70
NMDC 89.78
GMDC 733.40
Sandur Manganese 218.35
MOIL 327.60
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