NBCC (India) Limited, a central public sector enterprise under the Ministry of Housing and Urban Affairs, saw its shares decline by 4.33% in intraday trading on August 30, 2024, ahead of the company’s board meeting to consider a bonus issue proposal. The stock opened at ₹196.45 and reached an intraday high of ₹198.40 before falling to a low of ₹185.58. As of 1:36 PM, NBCC shares were trading at ₹186.38, down ₹8.44 from the previous close of ₹194.82.
The company’s board is scheduled to meet on August 31, 2024, to discuss the potential issuance of bonus shares to its equity shareholders. The bonus issue, if approved, would be executed through the capitalization of reserves and is subject to shareholder approval.
Investors will be closely watching the outcome of the board meeting on August 31, as the potential bonus issue could further boost the stock’s appeal and provide additional returns to shareholders. NBCC’s consistent growth and its role in India’s urban development and infrastructure initiatives make it a compelling investment option for long-term investors.
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