Shares of NMDC Ltd jumped more than 3% on November 5 after the company announced that its board would meet on November 11 to consider a proposal for issuing bonus shares.
As of 2:55 PM, NMDC shares were trading 3.3% higher at ₹233.9 on the NSE. Alongside the bonus issue proposal, the company will also release its quarterly results for the period ending September 30, 2024, on the same day.
“Meeting of the Board of Directors of the Company is scheduled to be held on Monday, the 11th November 2024, inter alia, to consider and approve the unaudited financial results (standalone and consolidated) for Q2FY25. Further, the board shall consider a proposal for issuance of bonus shares to shareholders, subject to necessary approvals,” NMDC said in its exchange filing.
The anticipation of bonus shares and the upcoming quarterly results announcement have sparked investor interest in NMDC, leading to a noticeable gain in its stock price.
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Source: Moneycontrol
News Desk
