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NBCC (India) shares surged 8 per cent in early trading on August 28, following the announcement that the company will consider a bonus issue.
Buoyed by the development, strong buying in the shares of NBCC lifted the stock to its day’s high of Rs 192.60 on the NSE, inching closer to its all-time high of Rs 198.30.
The board of NBCC will meet on August 31 to consider a proposal for bonus shares, it said in an exchange filing on Tuesday.
This will be the first proposal the company will consider after 2017.
Back in 2017, NBCC had declared a 1:2 bonus issue, meaning shareholders received 1 bonus share for every two that they held.
Record date for any bonus issue if any is yet to be determined.
NBCC shares currently carry a face value of Rs 1.
The company also announced earlier in the week that it has fixed September 6, 2024 as the record date for the Rs 0.63 per share dividend that it had announced previously. The dividend is subject to approval from shareholders at the upcoming Annual General Meeting on September 25.
Additionally, on August 9, the company received a significant Rs 15,000-crore order from the Srinagar Development Authority for developing a Satellite Township spanning 406 acres at Rakh-e-Gund Akshah, Bemina, Srinagar (J&K).
For financial performance, NBCC reported a 39 per cent increase in net profit for the quarter ended June 2024, totaling Rs 104.62 crore.