NMDC tanks 4% as firm opts against dividend payout

NEW DELHI: Shares of NMDC fell over 4 per cent in Monday’s session after the state-run, iron ore mining company, decided not to declare interim dividend for FY18. Brokerage Edelweiss Securities was expecting the firm to announce dividend of Rs 5-6. The debt-free company has been a regular dividend payer.

Following the development, the stock fell 4.33 per cent to hit a low of Rs 120.50 on BSE,

The company has reported record production amid two price increases in the ongoing financial. It is also expected to benefit from the recent mining ban in Goa and Odisha.


In the past two months, NMDC has increased ore price by nearly 25 per cent from the year-ago level. The production volume was also 9 per cent higher year on year in the first nine months of FY18.