NBCC shares surge over 7% on 1-2 bonus issue

Shares of state-run NBCC Ltd. surged by as much as 7.76% on Wednesday, reaching an intra-day high of Rs 192.60 on the NSE, following the company’s announcement that it is considering a proposal for a bonus share issue. 

The board of NBCC is scheduled to meet on August 31 to deliberate on this proposal, according to an exchange filing made on Tuesday.

In the filing, the company stated, “The board will consider the proposal for the issue of Bonus Shares to the equity shareholders of the company in the ratio, as it may deem fit by way of capitalisation of reserves, subject to the shareholders’ approval.” 

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When was the last bonus issue done by NBCC?

This marks the first time NBCC is considering a bonus issue since 2017, when it declared a 1:2 bonus, offering shareholders 1 bonus share for every 2 shares held. The record date for the potential bonus issue has not yet been determined. NBCC shares currently carry a face value of Rs 1.

In addition to the bonus share proposal, NBCC also announced earlier this week that it has set September 6, 2024, as the record date for the Rs 0.63 per share dividend previously announced. The dividend is subject to shareholder approval at the upcoming Annual General Meeting on September 25.

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NBCC stock performance in last one year

NBCC shares have demonstrated positive returns across multiple time frames. Over the past month, the stock has given a commendable 1.45% return, showcasing its stability and growth potential. The last six months have seen even more impressive results, with a substantial increase of 43.71%, indicating a strong upward trend. 

Year-to-date, NBCC shares have surged by 132.12%, reinforcing the stock’s positive momentum in the current fiscal year. Looking at the broader picture, the stock has delivered an impressive return of over 273.63% in the last twelve months, emphasizing its sustained growth and attractiveness to investors. Come from Sports betting site VPbet

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