1:1 Bonus Share In 4 Days: Multibagger NBCC Shares FALL 5.16%, Should You Buy? Check New TP

Navaratna company NBCC (India) Ltd shares price today witnessed steep fall of 5.16% on BSE to settle at Rs 170.85 per share. NBCC (India) Ltd also informed about receiving two work orders worth Rs 47.04 crore from Small Industrial Development Bank of India (SIDBI) (Rs 42.04 crore) and Office of Development Commissioner (Handicrafts), Ministry of Textiles (Rs 05.00 crore). NBCC (India) shares are also set to trade ex-bonus in the ratio of 1:1 indicating that shareholders will receive 1 bonus share for every 1 share held as on the record date i.e. October 7, 2024. NBCC (India) shares offered eye-catching returns to shareholders as shares gained 193% in last 1-year and soared 108% year-to-date. The company's market capitalisation stood at Rs 30,753.00 crore. It also announced Re 0.63/share dividend and shares traded ex-dividend on September 6, 2024. Check details below:

Should You Buy NBCC (India) Shares? As per A R Ramachandran, Independent SEBI Research Analyst, "NBCC is slightly bearish on the Daily charts with strong resistance at 180. A Daily close below support of 156 could lead to target of 137 in the near term."

Geojit, as per September 20, 2024 report, assigned hold call for NBCC shares with target price of Rs 189 per share for a target period of 12 month. According to the analyst, "though the long term outlook is positive, the rich valuation limits the upside potential. Therefore, we maintain HOLD rating and value NBCC's core business at a P/E of 51x on FY26E EPS & Rs.5/ share for land parcels held with a TP of Rs.189."

NBCC (India) Shares To Trade Ex-Bonus In 4-Days: According to the exchange filing of NBCC (India) issued as on August 31, 2024, "Board of Directors has recommended the issuance of Bonus Shares to the Shareholders of the Company in the ratio of 1:2 i.e. 1 (One) new fully paid-up Equity Share of Re 1/- (Rupee One Only) each for every 2 (Two) existing fully paidup Equity Share of Re 1/- (Rupee One Only) each to the eligible members of the Company as on Record Date, subject to the approval of the Shareholders in the forthcoming Annual General Meeting."

The Board set Monday, October 07, 2024 as record date to determine the eligibility of members to receive bonus shares.

NBCC (India) Shares Performance: The 52-week high price of NBCC (India) shares on BSE is Rs 209.75 per share (as on 28/08/2024) and 52-week low price is Rs 56.86 per share (as on 04/10/2023), respectively. NBCC (India) shares surged 34% in last 6-months, rose 453% in last 2-years, and offered return of 254% in last 3-years. In last 5-years, NBCC stock offered return of 397%.

NBCC Dividend In 2024: The exchange filing of NBCC (India) dated August 24, 2024 stated, "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."

Shareholding: FII/FPI 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. Life insurance corporation of India (LIC) holds 5.96% stake in NBCC as of June 2024 quarter, according to Trendlyne.

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 has been picked from the brokerage report of A R Ramachandran and Geojit. 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