NMDC is very much in the news after the Board yesterday approved the demerger between NMDC and NMDC Steel, a wholly-owned subsidiary of the company.
The market is happy because the PSU is aiming to list NMDC Steel separately on the bourses.
New equity shares of NMDC Steel would be issued to all the shareholders of NMDC in the same proportion.
The stock price today rose 3% to hit an intraday high at Rs.176.90 and is now trading at Rs.174 levels, with some 17 lakh shares changing hands. Its 52-week high is at Rs.213.15.