NMDC shares rises as company gets approval for subsidiary incorporation at GIFT City, Gujarat
The Iron-mining PSU stock has been trading higher by 14.34% from the past six-months.
NMDC shares rises as company gets approval for subsidiary incorporation at GIFT City, Gujarat
Shares of NMDC Ltd are edging higher in the recent trading session with an increase of 1.65% at Rs 72.11 and the stock opened today at Rs 72.00 at BSE. The stock has been corrected over by 4.39% in the last one-month.
According to the exchange filing, the Board of Directors of the Company in its 579th Meeting held on 12th August 2025 inter-alia approved proposal of Incorporation of a Wholly-Owned Subsidiary (WOS) of NMDC Limited in International Financial Service Centre (IFSC), Gujarat (WOS) of NMDC Limited in International Financial Service Centre (IFSC), Gujarat International Finance Tec-City ("GIFT"), Gandhinagar, Gujarat, subject to approval of Ministry of Steel, DIPAM and any other authority as may be required.
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The Iron-mining PSU stock has been trading higher by 14.34% from the past six-months. The market capitalization of the company is Rs 63.40K crore with P/E ratio at 9.69. Meanwhile, the dividend yield is at 4.58%. The 52-week high is at Rs 82.83.
The average share price target of 76.50 and consensus of analysts estimates an upside of 7.84% from the last price of 70.94 as per the recent trade.
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