Friday, July 11, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

nmdc demerger: NMDC to separately list steel biz; last day to buy stock to qualify for demerged shares

by Euro Times
October 25, 2022
in Business
Reading Time: 2 mins read
A A
0
Home Business
Share on FacebookShare on Twitter


stock was in focus on Tuesday as it was the last day to buy shares of the company in order to be eligible to receive shares of the demerged steel entity.

The government, earlier this month, had given its nod to demerge the steel business into a separate listed entity named NDMC Steel, from the state-owned iron-ore miner.

The company fixed October 28 as the record date for the same. Any investor having the delivery of shares in their demat account as of the given date would be considered eligible for the stake in the new entity.

The eligible investors will get one share of NDMC Steel of the face value of Rs 10 each, for every share of NDMC of the face value of Re 1 each.

Any investor, buying shares after Tuesday, October 25, will not be eligible for the shares of NDMC Steel and would need to buy them from the open market. Stock markets will observe a holiday on Wednesday, October 26.

The order from the Ministry of Corporate Affairs (MCA), issued on October 6, was received by NMDC on October 11. Assets worth Rs 18,650 crore and liabilities worth Rs 1,602 crore will be demerged to NMDC Steel.

In October 2020, the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi had given its in-principle approval to the demerger of the steel plant from NMDC, and the strategic disinvestment of the steel unit.

Founded in 1958, NMDC is a publicly-run enterprise, under the ownership of the Ministry of Steel, Government of India, and the country’s largest iron ore producer.

Since its inception, it has been involved in the exploration of a wide range of minerals, including copper, rock phosphate, limestone, magnesite, diamond, tungsten and beach sands, amongst others.

Shares of NMDC dropped more than 2% on Tuesday to Rs 128.15 before marking some recovery. The scrip settled at Rs 130.95 in the previous session.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)



Source link

Tags: BIZBuydaydemergeddemergerlistnmdcqualifySeparatelysharesSteelStock
Previous Post

Medtronic: 45 Years Of Dividend Increases, All-Time High Yield

Next Post

How to Get BIG Cash Flow

Related Posts

8th CPC Revised Pension Estimates: Are you Level 2, 4, 6, 8 and 10 employee? Know your projected revised pension at 2.08 and 2.57 fitment factors

8th CPC Revised Pension Estimates: Are you Level 2, 4, 6, 8 and 10 employee? Know your projected revised pension at 2.08 and 2.57 fitment factors

by zee business
July 11, 2025
0

eighth Pay Fee Revised Pension Estimates: A pay fee is an event when central authorities workers and pensioners hope to...

Elon Musk’s SpaceX set to launch Israel’s Dror satellite

Elon Musk’s SpaceX set to launch Israel’s Dror satellite

by Assaf Gilead
July 11, 2025
0

On Sunday morning US billionaire Elon Musk's SpaceX's Falcon 9 rocket will launch Israel Aerospace Industries (IAI) Dror 1...

Apple iPhone 16e, Samsung Galaxy S24 Ultra, OnePlus Nord 5

Apple iPhone 16e, Samsung Galaxy S24 Ultra, OnePlus Nord 5

by NDTV Profit Tech
July 11, 2025
0

4. iQOO 13 (Ace Inexperienced): Rs 52,999 (Down From Rs 61,999)Outfitted with a 6,000mAh battery, 6.82-inch FHD display screen, 50MP...

Crude oil futures gain as Trump plans major Russia statement 

Crude oil futures gain as Trump plans major Russia statement 

by Euro Times
July 11, 2025
0

At 9.53 am on Friday, September Brent oil futures have been at $68.79, up by 0.22%, and August crude oil...

US stocks: S&P 500, Nasdaq rise to record highs boosted by Nvidia record valuation, strong Delta forecast

US stocks: S&P 500, Nasdaq rise to record highs boosted by Nvidia record valuation, strong Delta forecast

by Euro Times
July 11, 2025
0

The S&P 500 and the Nasdaq Composite rose modestly to publish file closing highs on Thursday, boosted by an upbeat...

Furniture Insider: Data and Trends for Resellers (2025)

Furniture Insider: Data and Trends for Resellers (2025)

by Andrea Vargas
July 10, 2025
0

The furnishings class is rapidly increasing in each quantity and recognition. Main manufacturers and retailers depend on B-Inventory—the world’s largest...

Next Post
How to Get BIG Cash Flow

How to Get BIG Cash Flow

Blibli seeks to raise 0 million on IDX, but faces bleak share performance | idx, blibli, indonesia, startup, hkex, ecommerce, goto, bukalapak, marshall situmorang, herston elton powers, pandu sjahrir

Blibli seeks to raise $530 million on IDX, but faces bleak share performance | idx, blibli, indonesia, startup, hkex, ecommerce, goto, bukalapak, marshall situmorang, herston elton powers, pandu sjahrir

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Dividend Kings In Focus: ABM Industries

Dividend Kings In Focus: ABM Industries

July 11, 2025
8th CPC Revised Pension Estimates: Are you Level 2, 4, 6, 8 and 10 employee? Know your projected revised pension at 2.08 and 2.57 fitment factors

8th CPC Revised Pension Estimates: Are you Level 2, 4, 6, 8 and 10 employee? Know your projected revised pension at 2.08 and 2.57 fitment factors

July 11, 2025
Russian basketball player arrested on suspicion of carrying out ransomware attacks

Russian basketball player arrested on suspicion of carrying out ransomware attacks

July 11, 2025
Trump announces 35% tariffs on Canada starting Aug. 1, warns of higher levies

Trump announces 35% tariffs on Canada starting Aug. 1, warns of higher levies

July 11, 2025
Why ACA health insurance premiums may see ‘sharp’ increase in 2026

Why ACA health insurance premiums may see ‘sharp’ increase in 2026

July 11, 2025
Robinhood Offers Crypto Trading “at the Lowest Cost,” but Is It False Advertising?

Robinhood Offers Crypto Trading “at the Lowest Cost,” but Is It False Advertising?

July 11, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Dividend Kings In Focus: ABM Industries

8th CPC Revised Pension Estimates: Are you Level 2, 4, 6, 8 and 10 employee? Know your projected revised pension at 2.08 and 2.57 fitment factors

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In