NMDC board proposes 100 % interim dividend
15 Feb 2013 5:40 AM IST
The NMDC Board has recommended an interim dividend of 100 per cent. The company has posted a turnover of Rs 2,048 crore, gross profit of Rs 1,914 crore and net profit after tax (PAT) of Rs 1,293 crore in the third quarter of the current financial year (2012-13).
NMDC’s production of iron ore during the third quarter touched 54 lakh tonnes while sales of iron ore were 53 lakh tonnes.
The EPS is at Rs.3.26 per share for the quarter ended 31 December, 2012.
Meanwhile, the installation work of the 3 million tonnes per annum (mtpa) steel plant at Nagarnar, Chhattisgarh, as part of NMDC's forward integration programme and value addition, is being pursued rapidly. Orders for major technological packages have already been placed, other auxiliary packages are in advanced stages of finalisation and construction works of the major packages are being undertaken on a war footing.
As part of its expansion programme, NMDC is developing two new mines at an indicative cost of about Rs 1,500 crore, one at the Bailadila Sector in Chhattisgarh (Deposit-11B Iron Ore Project) and the other at Bellary-Hospet, Karnataka (Kumaraswamy Iron Ore Mine). Besides, orders have already been placed for the setting up of a 1.2-mtpa capacity pelletisation plant in Karnataka.
The third quarter results for 2012-13 were approved by the board of directors of the company under Chairman and Managing Director (CMD) C S Verma.
Speaking on the occasion, Verma informed, 'NMDC is going through a challenging period. The evacuation problem is a big challenge. The fourth quarter has started off well at all projects where production and dispatch targets are met during January 2013. The thrust is to minimise the evacuation problems and increase iron ore production to meet domestic demand.'
SCRIP UP 3% ON NIFTY INCLUSION
Shares of NMDC gained up to over 3 per cent on Thursday as the company will be included in the National Stock Exchange’s (NSE) benchmark index Nifty from April 1. They were up 3 per cent to Rs 148.95 at the BSE and 3.2 per cent to Rs 151.50 at the NSE.
India Index Services & Products Ltd, an NSE-Crisil joint venture that maintains the Nifty index, had announced on Wednesday that Wipro and Siemens would be excluded from the 50-share benchmark index with effect from 1 April, 2013.
In their place, private sector lender IndusInd Bank and state-run NMDC would be included in the Nifty index.
NMDC’s production of iron ore during the third quarter touched 54 lakh tonnes while sales of iron ore were 53 lakh tonnes.
The EPS is at Rs.3.26 per share for the quarter ended 31 December, 2012.
Meanwhile, the installation work of the 3 million tonnes per annum (mtpa) steel plant at Nagarnar, Chhattisgarh, as part of NMDC's forward integration programme and value addition, is being pursued rapidly. Orders for major technological packages have already been placed, other auxiliary packages are in advanced stages of finalisation and construction works of the major packages are being undertaken on a war footing.
As part of its expansion programme, NMDC is developing two new mines at an indicative cost of about Rs 1,500 crore, one at the Bailadila Sector in Chhattisgarh (Deposit-11B Iron Ore Project) and the other at Bellary-Hospet, Karnataka (Kumaraswamy Iron Ore Mine). Besides, orders have already been placed for the setting up of a 1.2-mtpa capacity pelletisation plant in Karnataka.
The third quarter results for 2012-13 were approved by the board of directors of the company under Chairman and Managing Director (CMD) C S Verma.
Speaking on the occasion, Verma informed, 'NMDC is going through a challenging period. The evacuation problem is a big challenge. The fourth quarter has started off well at all projects where production and dispatch targets are met during January 2013. The thrust is to minimise the evacuation problems and increase iron ore production to meet domestic demand.'
SCRIP UP 3% ON NIFTY INCLUSION
Shares of NMDC gained up to over 3 per cent on Thursday as the company will be included in the National Stock Exchange’s (NSE) benchmark index Nifty from April 1. They were up 3 per cent to Rs 148.95 at the BSE and 3.2 per cent to Rs 151.50 at the NSE.
India Index Services & Products Ltd, an NSE-Crisil joint venture that maintains the Nifty index, had announced on Wednesday that Wipro and Siemens would be excluded from the 50-share benchmark index with effect from 1 April, 2013.
In their place, private sector lender IndusInd Bank and state-run NMDC would be included in the Nifty index.
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