NBCC (India) Ltd shares went ex-bonus today, in a 1:2 ratio, where one bonus share is issued for every two shares held. The increase in outstanding shares leads to a proportionate reduction in share price. Following this adjustment, the shares traded at ₹117.25 on the BSE, up 3.99%.
However, some mobile trading apps might display the unadjusted price, incorrectly suggesting a fall of over 30%. The adjusted bonus shares are expected to be credited to eligible shareholders by October 31.
Bonus shares are distributed from the company’s free reserves to enhance liquidity, and NBCC’s reserves stood at ₹1,959 crore as of March 31, 2024. The company will issue 90 crore shares of ₹1 face value from these reserves.
NBCC’s share price has seen a significant increase, rising by 109% in 2024 and 192% over the past year. The company’s growth trajectory includes recent order wins, such as a ₹47 crore project for SIDBI and a ₹101 crore consultancy order for the National Highways Authority of India. Analysts view the company positively, citing strong order accretion and a robust order book worth ₹81,300 crore, indicating its potential for further growth.
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