Shares of NBCC Ltd, a Navratna Central Public Sector Enterprise, surged nearly 7% on Wednesday following the announcement that its board will consider a proposal for issuing bonus shares on August 31. The company informed shareholders through an exchange filing that the board meeting is scheduled for Saturday, August 31.
In the filing, NBCC stated, “The board will consider the proposal for issuing bonus shares to the equity shareholders of the company in a ratio deemed fit by way of capitalization of reserves, subject to shareholders’ approval.”
NBCC Ltd has delivered significant returns to its shareholders, riding the broader rally in the PSU segment. The stock has surged 117.20% in 2024 and delivered an impressive 261.96% return over the past year.
As of 9:16 am the shares were trading 6.83% higher at ₹188.72 on NSE
