NBCC LTd, a Navratna Central Public Sector Enterprise, is likely to distribute bonus shares to the shareholders after approval from the board at its upcoming board meet.
NBCC informed the shareholders, through an exchange filing, that a meeting of the board of directors of the company is scheduled to be held on Saturday, August 31.
"Board will consider the proposal for issue of Bonus Shares to the equity shareholders of the company in the ratio, as it may deem fit by way of capitalisation of reserves, subject to the shareholders approval," it said in an exchange filing.
The state-owned construction firm NBCC Ltd has delivered multi-bagger returns to its shareholders tracking the broader rally in the PSU segment.
The shareholders have witnessed mega rally in the counter in the year so far with the stock rising 117.20 percent in 2024. In just 365 days, the scrip endured the northbound journey to deliver 261.96 percent returns.
In the last two years, it rose higher by a whopping 425.59 percent, making investors richer with massive gains, compared to Sensex which rose 38.89 percent in the same period.
In Tuesday's trade, NBCC share price settled in green to quote at Rs 177.45 on the NSE, up nearly 1 percent.
In an earlier meeting last week, the company fixed the record date for determining the eligibility of shareholders to receive final dividend of Rs 0.63 per equity share of Re 1 for the FY 2023-24. It fixed the record date on Friday, September 6, 2024.
The company in September 2023 last distributed a final dividend to its shareholders.
Earlier in August, the company received Rs 15,000-crore order from Srinagar Development Authority to develop Satellite Township spread over 406 acres at Rakh-e-Gund Akshah, Bemina, Srinagar ( J&K).
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