NMDC is currently the top loser on the BSE, hitting an intra day low of Rs.81.80 from its previous close of Rs.93.20. It remains firmly in the red, down over 11%.

The stock is down as it turned ex-dividend from today for the very generous Rs.9.50/share interim dividend that it declared for current fiscal.

This is a usual thing to happen – stock price always falls after going ex-dividend. Going ex-dividend means that from today, the person who owns the shares will get the Rs.9.50/share dividend and any new buyer will not be eligible for the interim dividend. Thus the price falls to exclude the advantage of the dividend.