New Delhi: Stocks of state-owned NMDC and VA Tech Wabag were trending on Wednesday owing to share price changes during the day’s trade. While NMDC’s share price was down over 5 per cent, VA Tech Wabag’s stock declined over 10 per cent on Wednesday. This comes amid a broader interest in the listing of key IPOs today, namely payments processor Mobikwik, retail giant Vishal Mega Mart and Sai Life Sciences, among others.
Let us find out why shares of desalination expert VA Tech Wabag and mining giant NMDC were trending on Wednesday, December 18, 2024.
VA Tech Wabag share price
VA Tech Wabag’s share price plunged 10.56 per cent at the time of writing to Rs 1,690 apiece on Wednesday after the company reported that a water desalination project secured from Saudi Arabia had been cancelled. The company attributed the cancellation to the Saudi local authority’s decision to ‘recalibrate’ the project size and its scope.
VA Tech Wabag reported that a fresh tender will be floated by the concerned authority in the coming two weeks, CNBCTV18 reported. Wabag’s share price was down 8.46 per cent in the past 5 days. Over the past month, Wabbag’s share value slipped 1.08 per cent. VA Tech Wabag’s stocks were up over 48 per cent in the past 6 months. Over the past year, VA Tech Wabag’s share price rose over 162 per cent.
NMDC share price
State-owned mining giant NMDC’s stock was down over 6 per cent at the time of writing on Wednesday to Rs 214.05 apiece. The company’s shares were down over 11 per cent in the past 5 days and over 3 per cent in the past month. NMDC’s stock value declined over 19 per cent in the past 6 months. However, NMDC’s share price was up over 10 per cent in the past year.
NMDC had set December 27, 2024, as the record date for its upcoming bonus share issue. NMDC bonus share issuance will take place in a 2:1 ratio, where existing NMDC shareholders will receive 2 bonus stocks for every 1 scrip of NMDC held by them, according to an exchange filing. The bonus share issuance will entail 586 crore stocks of Rs 1 face value each, according to the statement. NMDC’s bonus shares will be added to shareholders’ accounts by January 10, 2025.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Trending Stocks Today: Shares of state-owned mining giant NMDC and Chennai-based desalination and water treatment expert VA Tech Wabag were in focus on Wednesday, December 18, 2024. Here’s why Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
