NBCC (India) Ltd shares turned ex-bonus today with a bonus ratio of 1:2, meaning one new share is issued for every two held. Following this, the shares were trading 3.99% higher at ₹117.25 on BSE. Some brokerage platforms may show an unadjusted price, indicating a false drop of over 30%. The bonus shares are expected to be credited to eligible shareholders by October 31.
The issuance of bonus shares, sourced from the company’s free reserves, aims to enhance liquidity. NBCC India had a reserves & surplus balance of ₹1,959 crore as of March 31, 2024, facilitating the issue of 90 crore new shares of ₹1 face value.
NBCC has seen a 109% increase in its share price in 2024, surging 192% over the past year. The company’s robust order book of ₹81,300 crore and recent order wins, including a ₹47 crore SIDBI redevelopment project and a ₹101 crore consultancy order for National Highways Authority of India, indicate strong growth potential. Financial analysts anticipate further growth due to strong order accretion and real estate monetization initiatives.
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