NMDC is currently trading at Rs. 194.00, up by 0.20 points or 0.10% from its previous closing of Rs. 193.80 on the BSE.
The scrip opened at Rs. 195.90 and has touched a high and low of Rs. 199.00 and Rs. 193.85 respectively. So far 31229 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 255.00 on 17-Oct-2011 and a 52 week low of Rs. 136.15 on 20-Dec-2011.
Last one week high and low of the scrip stood at Rs. 199.90 and Rs. 186.00 respectively. The current market cap of the company is Rs. 77272.31 crore.
The promoters holding in the company stood at 90.00% while Institutions and Non-Institutions held 9.08% and 0.92% respectively.
NMDC, state-owned iron ore miner, has decided to set up a 250 MW coal-based power plant. The company is planning to form a joint venture with NTPC and SAIL for the power plant and it is in talks with them. Through this plant, the company aims to feed the electricity requirements of NMDC's upcoming 3 million tonne steel plant at Chhattisgarh's Nagarnar.
The company needs an investment of over Rs 1,200 crore for the power plant, at 250 MW capacity, which will be decided as per the shareholding agreement with the JV partner. It will be retaining a minimum of 26% stake in the venture and will source a minimum 51% power from the plant.
The entity will source the coal from NMDC's Shahpur (East) and Shahpur (West) blocks in Madhya Pradesh, for the power plant. The company is in the final stages of preparing the detailed project report (DPR).
