Orissa Minerals Development Company (OMDC) Limited may split its equity shares within a year. The company is also planning to come up with a bonus issue to further improve the affordability of the share
The market price of each share of OMDC Limited currently is a gigantic Rs.47,475 per share (CMP on BSE as on September 16, 2011). Although the earnings do not by any stretch of imagination, justify the market price of the share, which is quoting at a PE multiple of 128.70 (as on September 16, 2011), experts believe that the high price is due to very few number of shares in the market
The improved valuation of OMDC will also reflect in the share price of Vizag-based RINL, which plans to come up with an initial public offering by November 2012
Saturday, September 17, 2011
OMDC may split shares and issue bonus within a year
Tags
# IPO News
# IPO Updates
# OMDC Limited
# OMDC Ltd.
# Orissa Mineral Development Company
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