NBCC shares gain over 12% ahead of board meet on August 31 to consider bonus issue; check details

NBCC informed the exchanges in a filing that a meeting of its board of directors is scheduled to be held on Saturday, August 31, 2024, to consider the proposal to issue bonus shares to the company's equity shareholders. The bonus shares will be issued in the ratio decided by the Board, subject to approval from shareholders. The company previously declared a bonus issue of shares in a 1:2 ratio in February 2017.

The company also said in the filing that the trading window for NBCC stock will remain closed from August 28 until 48 hours after the conclusion of the board meeting for designated persons and their immediate relatives.

On August 14, NBCC informed the exchanges that its wholly-owned subsidiary HSCC (India) was awarded a work order by the Directorate of Medical Education & Research, Haryana. As part of the order, HSCC will procure biomedical equipment and hospital furniture for Pandit Deen Dayal Upadhyay University of Health Sciences in Karnal. The total order value stood at ₹528.21 crore.

Earlier on August 24, NBCC informed the exchanges that it has fixed Friday, September 6, 2024, as the record date for the payment of a final dividend of ₹0.63 per paid up equity share of ₹1 each for FY 2023-24 subject to the approval of shareholders at the 64th Annual General Meeting of the shareholders. The 64th AGM of the company is scheduled to be held on Wednesday, September 25, 2024.

NBCC shares have surged over 259% in the past year and nearly 117% so far this year in 2024. The stock has jumped over 34% in the past six months and 0.76% in the last one month.

NBCC Ltd shares are trading near its 52-week high at ₹199.02 apiece, up 12.1%, on the NSE at 11:15 am.