{"id":91416,"date":"2023-02-21T14:35:00","date_gmt":"2023-02-21T09:05:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=91416"},"modified":"2023-02-21T15:23:32","modified_gmt":"2023-02-21T09:53:32","slug":"nmdcs-newly-listed-demerged-shares-hit-the-upper-circuit-for-the-second-day-in-a-row","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/nmdcs-newly-listed-demerged-shares-hit-the-upper-circuit-for-the-second-day-in-a-row\/","title":{"rendered":"NMDC\u2019s newly listed demerged shares hit the upper circuit for the second day in a row\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2523324989\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>NMDC Steel Ltd (NSL), the newly listed demerged entity of NMDC Limited has hit the upper circuit for two days in a row. The company made a debut on the BSE at \u20b9 20.25 apiece yesterday and settled 4.96 percent higher at \u20b9 31.75 apiece. Its share price increased to \u20b9 33.30 apiece on Tuesday\u2019s early deals and hit the upper circuit again.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3408000745\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>As per the listing norms for companies that get listed because of demergers, the scrip will be in the trade-for-trade segment for 10 trading days. This means that there will not be any intraday trading.&nbsp;<\/p><p>In July 2022, NMDC Limited\u2019s board approved a scheme of arrangement which included the demerger of its Nagarnar Iron &amp; Steel Plant (NISP) at Nagarnar, Chhattisgarh. This plant would be demerged from NMDC to NMDC Steel (NSL), a wholly-owned subsidiary of NMDC.&nbsp;<\/p><p>\u201cNMDC\u2019s shareholders (as on 25 October 2022) will get an additional share of NMDC Steel Limited, which possesses the steel plant (1:1 ratio) i.e. NMDC transfers the steel plant at book value, which is around \u20b9190 bn ( \u20b965\/share), and debt of around \u20b917 bn. We expect the new shares (NMDC Steel) to list in December 2022 at around \u20b936\/share,&#8221; said brokerage firm Edelweiss in a note last year.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-3011023789\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Currently, the government holds a 60.79 percent stake in NSL. The company is up for privatization and the government is looking to sell 50.79 percent of its shareholding along with management control. It had invited preliminary bids or expressions of interest (EOI) for the strategic sale on December 1, 2022, and the last date for receiving the bids was January 27.&nbsp;<\/p><p>The remaining 10 percent stake of the government would be offered to NMDC after the strategic buyer for the 50.79 percent stake is selected.&nbsp;<\/p><p>The Department of Investment and Public Asset Management (DIPAM) said that as per current estimates, the targeted date for commissioning of the steel manufacturing plant NSL is March 31. It is expected to have a production capacity of 3 million tonnes per annum (MTPA).&nbsp;<\/p><p><strong>Written by Simran Bafna\u00a0<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-792214217\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>NMDC Steel Ltd (NSL), the newly listed demerged entity of NMDC Limited has hit the upper circuit for two days in a row. The company made a debut on the BSE at \u20b9 20.25 apiece yesterday and settled 4.96 percent higher at \u20b9 31.75 apiece. Its share price increased to \u20b9 33.30 apiece on Tuesday\u2019s [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":22179,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[],"class_list":["post-91416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NMDC\u2019s newly listed demerged shares hit the upper circuit for the second day in a row\u00a0 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/nmdcs-newly-listed-demerged-shares-hit-the-upper-circuit-for-the-second-day-in-a-row\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NMDC\u2019s newly listed demerged shares hit the upper circuit for the second day in a row\u00a0\" \/>\n<meta property=\"og:description\" content=\"NMDC Steel Ltd (NSL), the newly listed demerged entity of NMDC Limited has hit the upper circuit for two days in a row. The company made a debut on the BSE at \u20b9 20.25 apiece yesterday and settled 4.96 percent higher at \u20b9 31.75 apiece. 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