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NMDC shines on planning to own 100% stake in Legacy iron

NMDC is currently trading at Rs. 95.90, up by 5.35 points or 5.91% from its previous closing of Rs. 90.55 on the BSE.

The scrip opened at Rs. 94.50 and has touched a high and low of Rs. 96.15 and Rs. 92.90 respectively. So far 96905 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 124.30 on 14-Sep-2018 and a 52 week low of Rs. 86.45 on 06-Dec-2018.

Last one week high and low of the scrip stood at Rs. 96.15 and Rs. 89.80 respectively. The current market cap of the company is Rs. 28965.10 crore.

The promoters holding in the company stood at 72.28%, while Institutions and Non-Institutions held 22.88% and 4.85% respectively.

NMDC is planning to own 100% stake in Australian arm Legacy iron by acquiring the remaining 24% shares and delisting it from the Australian Stock Exchange (ASX).

The company currently holds 76% in Legacy Iron Ore, a Perth-based Australian exploration company focused on the development of iron ore, gold and base metal deposits.

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.

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