Dividend Alert: NMDC Offers Rs 2.30/Share, Eyes Rs 74 Target; Buy Before March 21 Record Date?

With its registered headquarters in Hyderabad, NMDC Limited, a Navratna Public Sector Undertaking under the Ministry of Steel, is the nation's largest producer of iron ore and runs the sole mechanised diamond mine. With mechanised mines at Donimalai (Karnataka) and Bailadila (Chhattisgarh), NMDC is the country's largest producer of iron ore. NMDC has its own research and development centre in Hyderabad, which UNIDO has designated as a Centre of Excellence. After NMDC announced its first interim dividend for the fiscal year 2024-2025, its shares closed Tuesday 3.03% higher on the NSE at Rs 66.88 a share, with a market value of Rs 19.60KCr.

NMDC Dividend

"The Board of Directors of the Company in its meeting held on Monday, 17th March 2025 inter-alia declared 1st Interim Dividend @ Rs 2.30 (Rupees Two and thirty paise only) per equity share of face value of Rs 1/- each for the financial year 2024-25. The said Interim Dividend shall be paid / dispatched within the prescribed timelines as per the provisions of the Companies Act, 2013 to those equity shareholders of the Company whose names appear in the Register of Members / records of Depositories as beneficial owners of the equity shares as on Friday, the 21st March 2025, which is the Record Date fixed for the purpose," said the PSU giant in a stock exchange filing on 17th March.

NMDC News

On March 6, 2025, Shri Amitava Mukherjee was appointed as Chairman & Managing Director (CMD) on the Board of NMDC Limited. He will hold this position until his superannuation on February 29, 2028, or until further orders are issued, whichever comes first.

Under his direction, NMDC became the first Indian iron ore mining firm to produce more than 45 million tonnes in FY24, marking a significant milestone. He led NMDC to its highest net worth and turnover in its history and was pivotal in the opening of the NMDC Steel Plant, which is now a source of pride for Bastar. Under his leadership, the company has gained traction in Australia's gold mining industry and established a bold plan for global expansion that would position it as a major mining force in the world.

"Shri Mukherjee has been instrumental in executing key investment strategies, bolstering financial discipline, and driving NMDC towards a future of responsible mining. With him at the helm of affairs, the Navratna company is foraying towards the ambitious goal of building a mining capacity of 100 million tonnes by 2030," NMDC said in a statement.

NMDC Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "The stock of NMDC is currently in a consolidation phase following a significant downtrend. The price action indicates the formation of a sideways accumulation pattern, reflecting indecision among market participants. The stock has found strong support at the 50-day EMA, while the 20-day EMA is also providing additional support. However, the longer-term 100-day and 200-day EMAs remain above the current trading price, acting as key resistance levels. A sustained move above the 100-day EMA would signal a potential bullish breakout, whereas rejection from this level could extend the ongoing consolidation phase."

"On the upside, resistance is observed in the 68-70 range. A successful breakout above this level could drive the stock toward a short-term target of 74. Conversely, immediate support is positioned at 64, with a suggested stop-loss at 62 to mitigate downside risk. The Relative Strength Index (RSI) is currently at 54.42 and trending upward, indicating strengthening buying momentum," the analyst added.

"In conclusion, based on technical analysis and prevailing market conditions, NMDC presents a promising buying opportunity with an upside potential toward 74. However, traders should implement proper risk management strategies to safeguard against potential market reversals," Mandar Bhojane further recommended.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.