NBCC (India) Share Price | The board of directors is set to meet on August 31, 2024, to evaluate the proposal for issuing bonus shares to equity shareholders.
In 2024 alone, NBCC India stock has surged by 117.20 percent while over the past year, it has delivered an impressive 261.96 percent returns
NBCC (India) shares surged 8 percent 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 directors is set to meet on August 31, 2024, to evaluate the proposal for issuing bonus shares to equity shareholders.
This potential issue will be done through the capitalization of reserves, subject to shareholder approval and the ratio determined by the board.
In recent developments, on August 14, NBCC’s subsidiary HSCC (India) secured a work order worth Rs 528.21 crore from the Directorate of Medical Education & Research, Haryana. This order is for procuring biomedical equipment and hospital furniture for the Pt. Deen Dayal Upadhyaya University of Health Sciences in Kutail, Karnal.
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% increase in net profit for the quarter ended June 2024, totaling Rs 104.62 crore.
News Source : moneycontrol.com
