Mid cap navaratna company NBCC (India) Ltd shares today surged 1.67% to 177.00 per share at the time of writing the story. Today NBCC informed that its subsidiary HSCC (India) Ltd bagged order worth Rs 1261 crore from Health Ministry for the establishment work of AIIMS (Bihar). NBCC shares offered shareholders attractive return of 116% year-to-date and surged 432% in last 2-years. The company will also reward 1 bonus share to shareholders in October and fixed October 7, 2024 as the record date. The company has a market capitalisation of Rs 31,824.00 crore. NBCC (India) also recommended 63% dividend and shares traded ex-date on September 6, 2024. The record date for dividend was also September 6, 2024. Check key details below:

NBCC (India) Bags Order: As per the exchange filing of NBCC (India) dated September 23, 2024, HSCC (India) Limited, a wholly owned subsidiary of NBCC (India) Limited has recently been awarded work order. The order pertains to establishment work of AIIMS in Darbhanga, Bihar. The subsidiary received the work order from Ministry of Health and Family Welfare, Government of India. The work order is worth Rs 1261 crore.

NBCC (India) Shares To Trade Ex-Bonus In October: As per the exchange filing of NBCC (India) dated August 31, 2024, “Board of Directors has recommended the issuance of Bonus Shares to the Shareholders of the Company in the ratio of 1:2 i.e. 1 (One) new fully paid-up Equity Share of Re 1/- (Rupee One Only) each for every 2 (Two) existing fully paidup Equity Share of Re 1/- (Rupee One Only) each to the eligible members of the Company as on Record Date, subject to the approval of the Shareholders in the forthcoming Annual General Meeting.”

The BSE filing added, “The Board has fixed Monday, October 07, 2024 as Record date to determine the eligibility of members to receive bonus shares. Other details are enclosed at Annexure-I.”

NBCC Dividend In 2024: The exchange filing of NBCC (India) dated August 24, 2024 stated, “The Company has fixed Friday, September 06, 2024 as the Record Date for determining shareholders eligible to receive final dividend of Rs. 0.63/- per paid up equity share of Rs. 1/-each (i.e.@ 63%) for the FY 2023-24 subject to the approval of Shareholders at the 64th AGM of the shareholders.”

NBCC (India) Shares Performance: The 52-week high price of NBCC (India) shares on BSE is Rs 209.75 per share (as on 28/08/2024) and 52-week low price is Rs 56.71 per share (as on 27/09/2023), respectively. NBCC (India) shares gained more than 53% in last 6-months, rose 116% in 2024, rallied 203% in last 1-year, and delivered return of 432% in last 2-years.

NBCC Upcoming AGM: According to the regulatory filing, “It is hereby informed that the NBCC’s 64th Annual General Meeting is scheduled to be held on Wednesday, September 25, 2024 at 12:00 Noon (IST) through “Video Conferencing (VC)/ Other Audio Visual Means (OAVM).”

When NBCC Will Credit Bonus Shares To Shareholders Account? In order to qualify for bonus shares, traders must be existing shareholders of the company before the record date and ex-date. NBCC fixed October 7, 2024 as the record date. Shareholders must buy NBCC shares before October 7, 2024. Meanwhile, ex-date is ideally one day before the record date. Companies generally declare timeline for bonus share allotment in advance. The bonus shares will then be credited to the accounts of shareholders after the Board of Directors give approval to the issues. The procedure of allotting bonus share ideally takes nearly 10 to 15 days.

Shareholding: FII/FPI have increased holdings from 4.33% to 4.43% in June 2024 quarter. Number of FII/FPI investors increased from 119 to 155 in June 2024 quarter. Mutual Funds have increased holdings from 2.98% to 3.04% in June 2024 quarter. Number of MF schemes increased from 10 to 13 in June 2024 quarter, according to Trendlyne.

Should You Buy NBCC Shares? A R Ramachandran, Independent SEBI Research Analyst said, “NBCC is sideways to slightly bullish on the Daily charts with strong support at 170. A Daily close above resistance of 183.4 could lead to target of 206 in the near term.”

About: Founded in 1960 as a Government of India Civil Engineering Enterprise, NBCC with its Headquarter in Delhi, today, holds the status of Navratna CPSE, and has emerged as the undisputed leader in the Construction Sector on the back of its capabilities, innovative approach, adherence to highest standard of quality, timely delivery and a dedicated workforce.

Disclaimer:

The stock has been picked from the brokerage report of A R Ramachandran. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.

Story first published: Monday, September 23, 2024, 16:12 [IST]