Swastika Investmart has come out with a research report on NMDC 's FPO. The broking firm has recommended for portfolio with long-term perspective.
The 33,22,43,200 equity shares follow-on public offer of NMDC will close on March 12. The price band is at Rs 300-350 per share and the offer shall constitute upto 8.38% of the post offer paid-up equity share capital of the company.
The report says, "NMDC - the India's largest Iron-ore Production company is also a Nav-Ratna company conferred by Govt of India (GOI). The company is coming out with FPO at price band of Rs 300-350 (LTP on Mar 9, 2010 - Rs 377.65) to meet GOI's divestment decisions. The stock is recommended for any portfolio with long-term perspective and target of Rs 500-600 in next 2 years considering its dominating hold in the Industry."
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