63% Dividend Soon, Bonus Share On Aug 31: Multibagger Navratna NBCC Shares Rise 117% YTD

Mid cap Navratna company NBCC (India) Ltd today informed BSE that its Board of Directors will consider the proposal for issue of bonus shares on August 31, 2024. Last trading price of NBCC India on BSE is Rs 177.65 per share with gain of 0.99% in trade today. NBCC (India) shares offered shareholders return of 117% year-to-date and soared 262% in last 1-year. The PSU has a market capitalisation of Rs 31,977.00 crore. Earlier on August 24, 2024, NBCC (India) fixed September 6, 2024 as the record date for 63% final dividend. Check details below:

NBCC (India) To Mull Bonus Share On Aug 31: As per the regulatory filing of NBCC (India) issued as on August 27, 2024, "it is hereby informed that meeting of Board of Directors of the Company, NBCC (India) Limited, is scheduled to be held on Saturday, August 31, 2024 to inter-alia "consider the proposal for issue of Bonus Shares to the equity shareholders of the company in the ratio, as it may deem fit by way of capitalization of reserves, subject to the Shareholders approval."

NBCC Fixes Record Date For Final Dividend: According to the regulatory filing of NBCC (India) issued as on August 24, 2024, "The Company has fixed Friday, September 06, 2024 as the Record Date for determining shareholders eligible to receive final dividend of Rs. 0.63/- per paid up equity share of Rs. 1/-each (i.e.@ 63%) for the FY 2023-24 subject to the approval of Shareholders at the 64th AGM of the shareholders."

NBCC (India) To Hold AGM Next Month: The exchange filing added, "It is hereby informed that the NBCC's 64th Annual General Meeting is scheduled to be held on Wednesday, September 25, 2024 at 12:00 Noon (IST) through "Video Conferencing (VC)/ Other Audio Visual Means (OAVM)"."

NBCC (India) Shares Performance: The 52-week high price of NBCC (India) shares on BSE is Rs 198.25 per share (as on 09/07/2024) and 52-week low price is Rs 49.06 per share (as on 28/08/2023), respectively. NBCC (India) shares soared 22% in last 3-months, jumped 28% in last 6-months, gained 262% in last 1-year, and offered return of 425% in last 2-years. NBCC (India) stock surged 302% in last 3-years.

NBCC Bonus Share History: NBCC (India) offered 1 bonus issue since February 17, 2017. The last Bonus that NBCC (India) declared was in the ratio 1:2 with ex-bonus date set as February 17, 2017."

Shareholding: FII/FPI have increased holdings from 4.33% to 4.43% in June 2024 quarter. Number of FII/FPI investors increased from 119 to 155 in June 2024 quarter. Mutual Funds have increased holdings from 2.98% to 3.04% in June 2024 quarter. Number of MF schemes increased from 10 to 13 in June 2024 quarter, according to Trendlyne.

Should You Buy NBCC Shares? Brokerage firm StoxBox recommended buy call to NBCC shares with target price of Rs 217 for near term. According to the analyst, "NBCC's price action recently experienced a bullish breakout from a cup and handle pattern, signaling a potential trend reversal. Following the breakout, the price retested the demand zone near Rs 169 levels and continues to exhibit signs of accumulation. The stock demonstrates strong buyers' demand, EPS, and price strength and presents a low-risk, high-reward opportunity. Therefore, we suggest buying NBCC at the current market price with a target of Rs 217 and maintaining a stop loss at Rs 170."

About: Founded 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 highlights the bonus share, dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.