NBCC shares rally: Shares of state-owned Navratna company NBCC (India) sprinted as much as 8.30 per cent during intra-day deals on Wednesday to Rs 192.40, merely Rs 6 shy of its 52-week high of Rs 198.25, touched on July 9, 2024.
The northward rally in NBCC’s stock is attributed to the company’s announcement that the board is scheduled to meet on Saturday, August 31, 2024, to consider a proposal for issuing bonus shares to equity shareholders.
“…to inter-alia consider the proposal for the 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 Shareholders’ approval,” NBCC said in a regulatory filing on the BSE.
NBCC (India) is a wholly-owned Government of India public sector undertaking under the Ministry of Housing and Urban Affairs (MoHUA). It operates in three major segments: project management consultancy, real estate, and engineering procurement & construction.
NBCC’s market capitalisation stands at Rs 33,930 crore on the BSE, as of August 28, 2024. The civil construction company is a constituent of the BSE 500 index.
BSE analysts reflect that this Navratna stock has yielded a multibagger return year-to-date with a rally of 129.98 per cent, while the Sensex jumped 13.03 per cent during the same period.
Historically, NBCC shares have exhibited remarkable performances over the years. As per BSE analytics, NBCC shares have surged 35.52 per cent in the last three months, 42.12 per cent in the last six months, and a whopping 269.77 per cent in the last one year.
This Navratna PSU stock has yielded a return of 456.51 per cent in the last two years, 422.50 per cent in the last five years, and a massive 568.44 per cent in the last ten years, according to BSE analytics as of August 28, 2024.
At around 11:00 PM, NBCC shares were trading at Rs 188.45, up 6.08 per cent from its previous close of Rs 177.65 on the BSE. Meanwhile, on the NSE, NBCC shares were trading at Rs 188.50, up 6.11 per cent from its previous close of Rs 177.64. At the same time, around 497.43 lakh equity shares of NBCC were exchanged, worth Rs 941.53 crore on the NSE.
First Published: Aug 28 2024 | 11:41 AM IST
