NBCC Share Price: Shares of NBCC (India) surged over 4% on Monday morning trade, as the stock traded ex-bonus. October 7 also marks the record date of identification of shareholders eligible for bonus shares. In the opening hours, NBCC share was trading up 4.1% at Rs 117.32 on the NSE.
The NBCC Board approved the issuance of one fully paid-up equity share for every two existing shares subject to shareholder approval at the Annual General Meeting. The record date for the determination of shareholders' eligibility for bonus shares was set as Monday.
Earlier, NBCC had announced a bonus issue in the ratio of 1:2, meaning shareholders will get one new fully paid-up equity share of Re 1 for every two existing shares. According to a regulatory filing, the company will issue a total of 900 million bonus equity shares, drawn from free reserves generated from profits available until March 31, 2024.
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NBCC's reserves and surplus available for capitalization stood at Rs 1,959 crore as of March 31, 2024. The bonus shares are expected to accrue by October 31, 2024, within two months of board approval.
Performance of NBCC Shares
NBCC shares have increased by 103% in the past 12 months, more than doubling investor capital. In comparison, the Nifty has gained around 28% during the same period. The stock is up 43% so far this year, outperforming the Nifty's 15% return over the same period.
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Disclaimer: This is only a story about the performance of the stock. Jagran does not advise investing, please take experts opinion before investing.