The company made this announcement during trading hours today, 5 September 2012.

Meanwhile, the BSE Sensex was down 43.26 points or 0.25% to 17,397.61.

On BSE, 2,087 shares were traded in the counter compared as against average daily volume of 2,357 shares over the past one quarter.

The stock hit a high of Rs 53,275 and a low of Rs 50,700 so far during the day. The stock had hit a 52-week high of Rs 60,392.25 on 7 August 2012. The stock had hit a 52-week low of Rs 25,550 on 4 June 2012.

The mid-cap stock had underperformed the market over the past one month till 4 September 2012, sliding 7.37% compared with the Sensex's 1.41% rise. The scrip had, however, outperformed the market in past one quarter, jumping 96.16% as against Sensex's 9.08% surge.

The state-run iron ore miner has equity capital of Rs 0.60 crore. Face value per share is Rs 10.

It may be recalled that Orissa Minerals Development Company's (OMDC) board of directors on 11 August 2012 had approved the engagement of a merchant banker for examining the various aspects relating to the capital restructuring of the company by issue of bonus shares. The board also at that time approved a 10-for-1 stock split.

The board also approved at time the engagement of a merchant banker for studying the possibility of different aspects with regard to a proposal for merger of The Bisra Stone Lime Company (BSLC) with OMDC.

Orissa Minerals Development Company's (OMDC) net profit fell 13.8% to Rs 2.81 crore on 15.1% growth in total income to Rs 20.28 crore in Q1 June 2012 over Q1 June 2011.

State-run OMDC was incorporated in the year 1918. Its mines are located around Barbil in Keonjhar District of Odisha. It is one of the oldest iron ore mining companies in India. The Government of India holds 50.01% stake in OMDC (as per the shareholding pattern as on 30 June 2012).