NBCC Shares Surge After Ex-Bonus Trading, Secures Major Orders

7 Oct 2024 , 01:00 PM

NBCC Ltd. shares rose over 4% on Monday, trading ex-bonus after the company announced a bonus issue. At the time of writing On October 7, 2024 at 12:59 pm, shares of NBCC Ltd is trading at ₹114.50 which is a 1.62% gain than the previous close. NBCC Ltd stock has gained a total of 98% in the last one year, and almost 39% since the beginning of the year.

The bonus issue is in the ratio of 1:2, meaning shareholders will receive one bonus share for every two shares they hold as of the record date.

The record date for this bonus issue was set for October 7, so buyers of NBCC shares today are not eligible for the bonus. This is NBCC’s first bonus issue since 2017, when a similar 1:2 bonus was declared.

On September 30, NBCC secured a ₹101 Crore order from the National Highways Authority of India (NHAI) to act as Project Management Consultant (PMC) for a regional office project.

Earlier, NBCC’s subsidiary HSCC won a ₹1,260 Crore contract from the Ministry of Health and Family Welfare for the construction of an All India Institute of Medical Sciences (AIIMS) in Darbhanga, Bihar.

Specific details on the scope and execution timelines for the AIIMS project were not provided.

In September, NBCC signed an MoU with MTNL Ltd. to develop a 13.88-acre land parcel in New Delhi, valued at approximately ₹1,600 Crore. The company has not disclosed the current size of its order book, leaving room for speculation on its total project load.