2 Bonus Shares, 15 Dividends; 1:2 Split: Buy NBCC Shares For Double-Digit Returns, Analyst Bullish

2 Bonus Shares, 15 Dividends; 1:2 Split: Buy NBCC Shares For Double-Digit Returns, Analyst Bullish

Investment oi-Renu Baliyan

State-owned NBCC shares saw a gain of 4.97% in last 1-week on Bombay Stock Exchange (BSE) as the company secured several work orders in October. Last trading price of NBCC (India) Ltd shares on BSE is Rs 97.10 per share. The stock on Thursday opened at Rs 97.05 per share, touched a high of Rs 97.90 per share and a low of Rs 95.65 apiece. The scrip slumped 11.93% in last 14-days and gained 122% in last 1-year. Board of Directors of NBCC will hold meeting on November 13, 2024 to consider financial results for the quarter and half-year ended September 30, 2024.

FII/FPI have decreased holdings from 4.43% to 4.11% in Sep 2024 qtr Number of FII/FPI investors increased from 155 to 173 in Sep 2024 qtr. Life insurance corporation of India (LIC) has a stake of 5.11% as the PSU insurer holds 137,911,863 shares of NBCC.

NBCC To Consider Financial Results

As per the exchange filing of the Navratna PSU dated October 28, 2024, “pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that meeting of Board of Directors of the Company would be held on Wednesday, November 13, 2024 to inter-alia consider the following:
1. Approve the unaudited Financial Results (Standalone and Consolidated) for the quarter and half-year ended September 30, 2024.”

NBCC Bonus Shares, Stock Splits, & Dividend History

The company so far recommended bonus shares twice and sub-divided the face value of its shares twice as well. It has recommended 15 dividends since 2012. NBCC offers a dividend yield of 0.43%. In last 1-year, NBCC recommended Re 0.63 per share dividend.

NBCC Secures New Order

As per the exchange filing of NBCC dated October 28, 2024, “This is to inform that NBCC (India) Limited has been awarded redevelopment works (Phase-I) in the state of Goa. NBCC will undertake the redevelopment of Junta House, redevelopment of government garage, construction of administrative building at Porvarim, redevelopment of circuit house, redevelopment of govt. quarters, and redevelopment of Mini Convention Centre.” The order is worth Rs 1726.00 crore.

Earlier on October 22, NBCC subsidiary HSCC bagged orders worth Rs 642.69 crore. as per the BSE filing, “the first order is worth Rs 642.69 crore for construction of additional 500 Beds (enhancement of bed strength from 650 to 1150 beds) at ESIC medical college and Hospital at Faridabad on deposit mode basis. Meanwhile, the second order is worth Rs 679.79 crore for construction of 500 Bedded ESIC Hospital at Manesar (Gurugram), Haryana on deposit mode basis.”

NBCC (India) Shares Performance

NBCC (India) shares saw a dip of 19% in last 3-months tenure. In last 6-months, the scrip surged merely 4% and gained 78% year-to-date. In last 2-years, NBCC delivered impressive returns of 348%. 52-week high price of the stock on BSE is Rs 139.90 per share (as on 28/08/2024) and 52-week low price is Rs 42.55 per share (as on 28/11/2023).

NBCC (India) Shareholding

FII/FPI have decreased holdings from 4.43% to 4.11% in September 2024 quarter. Number of FII/FPI investors surged from 155 to 173 in September 2024 quarter. Mutual Funds have increased holdings from 3.04% to 3.45% in September 2024 quarter. Number of MF schemes zoomed from 13 to 18 in September 2024 quarter. Institutional Investors reduced holdings from 13.91% to 13.21% in September 2024 quarter, according to Trendlyne.

Should You Buy NBCC Shares?

According to latest report of A R Ramachandran, Independent SEBI Research Analyst said, “”NBCC stock price is bullish on the Daily charts with strong support at 93. A Daily close above resistance of 99.6 could lead to a target of 112 in the near term.”

About NBCC

It came into existence 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: Friday, November 1, 2024, 5:40 [IST]

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