Скачать или смотреть Why NMDC Stock Crash after Demerger in Stock Market

why nmdc stock is down today
Why nmdc stock is falling
NMDC impact on demerger of stock
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NMDC stock down by 18 percent
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Why nmdc stock is down
Shares of NMDC spurted over 15 per cent in Thursday's trade after hitting a fresh 52-week low earlier in the day.

The scrip hit a 52-week low of Rs 93.60 earlier today, only to stage a smart rebound. By 11.25 am, the stock had hit a high of Rs 108.85, up 16.29 per cent over its day's low. A total of 62.81 shares had changed hands on the counter compared with a two-week average of 5.35 lakh shares.

The scrip went ex-demerger today. The company had earlier this month announced a demerger of NMDC Steel and had fixed the record date for the same as October 28, Friday.

On this day, the company will identify shareholders of the demerged company and would allot shares of NMDC Steel in a 1:1 ratio.

Analysts noted that the demerger was long-awaited and is positive for the stock as it unlocks the value of NMDC's Rs 21,000 crore investment in the steel plant.

'Even if the market builds in 50 per cent of the steel plant investment, the new shares can list at Rs 36 per share in Q3FY23. This would help unlock the value of minority shareholders," said Nuvama Institutional Equities in a recent note

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