A couple of portfolio managers are reported to have started accumulating NMDC at every decline. The company has reported a net profit of Rs. 3764.30 crore on a turnover of Rs. 5844.93 crore for the first half of the current fiscal against a net profit of Rs. 2882.57 crore on a turnover of Rs. 4977.97 crore for the corresponding period last year. For the entire 2010-11, it had posted a net profit of Rs. 6499.22 crore on a turnover of Rs. 11368.94 crore. Moreover, free reserves of Rs. 22500 crore against the an equity capital of Rs. 396.47 crore make the stock a bonus candidate. The last bonus was in the ratio of 2 for 1 in 2008. Another liberal bonus from this cash rich company is not ruled out in the near term. The scrip is worth considering at declined level for medium to long-term rewards, say these bull operators.
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