NBCC shares rally as much as 6.2% as stock turns ex-bonus today

The PSU announced a bonus issue in the ratio of 1:2. The record date for this bonus issue is also today, i.e., October 7, 2024.

Last seen, shares were trading at ₹115.40, up 2.35%. 

The ex-date is usually a day before the record date of the corporate action announced earlier by any company. Record date is the date when a company checks for eligible shareholders for the announced corporate action. Ex-date is the date when a stock trades without the benefit of such actions.

However, in this case, as mentioned earlier too, today is the record date as well for the bonus issue. 

The company said in a statement on Thursday it has "secured a prestigious project for the construction and development of additional infrastructure at the Indian Institute of Information Technology (IIIT), Nagpur."

In early September, NBCC (India) Ltd and RITES Ltd signed an agreement to collaborate for securing projects globally in diverse sectors.

According to a statement, NBCC and RITES have signed a significant Memorandum of Understanding (MoU) aimed at transforming infrastructure development across India and beyond.

NBCC is one of the leading players in the construction sector, with areas of operation in Project Management Consultancy (PMC), Engineering Procurement & Construction (EPC), and real estate development.

"This MoU will allow both the organisations to complement each other in securing projects in diverse sectors. The key competencies of these two companies will bring about better innovation and execution," the statement said.

The MoU was signed by Pradeep Sharma, ED, Business Development, NBCC, and Pankaj Chaudhary, Chief Strategy Officer, RITES, in the presence of NBCC CMD K P Mahadevaswamy and RITES CMD Rahul Mithal.