NMDC Demerger Record Date 2022, NMDC Demerger Ratio: National Mineral Development Corporation (NMDC) Limited has announced the record date for demerger. The government has planned to demerge the PSU iron-ore miner's steel unit. The government holds a 60.79 per cent stake in NMDC. According to an exchange filing by the company on Thursday, the Board of Directors of NMDC has fixed October 28 as the record date for the purpose of identification of shareholders of the demerged company (NMDC) to whom the shares of the resulting company (NMDC Steel) would be issued.

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The state-owned company under the Ministry of Steel is headquartered in Hyderabad. It is also the country's largest iron ore producer.

As a part of the demerger scheme, approved by the Ministry of Corporate Affairs (MCA) recently, NDMC's assets worth Rs 18,650 crore and liabilities worth over Rs 1,600 crore will be demerged to NMDC Steel. The Ministry of Steel had in March this year approved the demerger.

NMDC shareholders will be eligible to get one share of NMDC Steel for every equity share held. The steel business will be listed separately on the bourses.

According to Zee Business panellist and market expert Siddharth Sedani, NMDC is a good buy. He suggested buying the stock in segments.

At 1:30 PM, NMDC shares were trading at Rs134 apiece, up by nearly 4 per cent from its previous closing of Rs129 on the NSE. On the BSE, the stock quoted a price of Rs 133.95. NMDC has delivered a negative return of over 10 per cent in 2022 so far. The dividend yield of the company is 11.02 per cent. NMDC stock's 52-week range is Rs 175.35 - Rs 99.60.

The current market cap of the company is Rs 39,21,150.63 crore, according to the NSE website.

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