NMDC Bonus Shares 2024: Details and Market Impact
The NMDC share price experienced selling pressure during the early hours of Friday’s trading session, coinciding with the ex-date for its 2:1 bonus share issuance. The stock opened positively at ₹71.84 on the NSE and briefly touched an intraday high of ₹72.10. However, subsequent profit booking led to a decline, as the stock struggled to sustain higher levels.
Bonus Shares Details
NMDC announced a 2:1 bonus share issue, meaning shareholders would receive two additional equity shares for every one share held. The company confirmed this plan through regulatory filings, stating that it had obtained the necessary approvals from stock exchanges.
The record date for determining shareholder eligibility for the bonus shares was set as Friday, 27th December 2024. Shareholders holding NMDC shares as of this date will be entitled to the bonus allotment.
Historical Context
This is the first time in over 16 years that NMDC has issued bonus shares. Previously, the company had executed a similar 2:1 bonus share issuance, with the ex-date set on 21st May 2008.
By offering bonus shares, NMDC aims to reward its shareholders while enhancing liquidity and making the stock more affordable for retail investors.
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