1:2 Bonus Share: NBCC Bags New Orders Worth Rs 1322 Cr, Shares Fall 5.17% To Slip Below Rs 100

Navaratna PSU NBCC (India) Ltd shares today witnessed steep fall despite bagging fresh orders worth Rs 1322.48 crore. Last trading price of NBCC (India) shares on BSE stood at Rs 97.35 per share as shares plummeted nearly 5.07%. NBCC (India) shares offered attractive returns of 112% in last 1-year and 78% in 2024. HSCC (India) Limited, a wholly owned subsidiary of NBCC (India), today received 2 orders from Employees State Insurance Corporation. Earlier this year, LIC backed NBCC (stake of LIC is 5.11% with137,911,863 shares) recommended 1:2 bonus shares with record date foxed as October 7 and recommended 0.63 per share dividend with ex-dividend date set as September 6, 2024. Check details below:

NBCC's Subsidiary HSCC Bags Orders: As per the BSE filing dated October 22, 2024, "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 slipped 13.63% in last 1-week, fell 21% in last 3-months, gained 351% in last 2-years, and soared 212% in last 3-years. The 52-week high price of NBCC (India) shares on BSE is Rs 139.90 per share (as on 28/08/2024) and 52-week low price is Rs 40.52 per share (as on 26/10/2023).

Should You Buy NBCC Shares? A R Ramachandran, Independent SEBI Research Analyst said, "NBCC is bearish on the Daily charts with strong resistance at 110.3. A Daily close above this resistance could lead to target of 124 in the near term. Strong support will be at 101."

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.

NBCC Dividend In 2024: It set September 06, 2024 as the record date for final dividend of Rs. 0.63/- per paid up equity share of Rs. 1/-each (i.e.@ 63%).

About: 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.