Public sector construction company NBCC is planning to give a significant gift to its shareholders.
The company has announced that it will consider issuing bonus shares to its investors.
A meeting of the Board of Directors has been scheduled for Saturday, August 31, 2024, to discuss this proposal.
Details of the Board Meeting and Bonus Share Proposal
In a regulatory filing with the stock exchange, NBCC stated that the upcoming board meeting will focus on the proposal to issue bonus shares.
According to SEBI’s Listing Obligations and Disclosure Regulations 2015, the board will discuss the details of issuing these shares on Saturday, August 31, 2024.
The ratio for the bonus shares will be determined based on the company’s reserve capitalization. Shareholders’ approval will also be sought for this decision.
Additionally, NBCC has announced that from August 28, 2024, until 48 hours after the board meeting, all designated persons and their relatives will be prohibited from trading in the stock.
NBCC’s Impressive Stock Performance in 2024
NBCC shared this information with the stock exchanges after the market closed.
On Tuesday, the company’s stock closed at Rs 177.64, marking a 0.94 percent increase.
NBCC’s stock is considered a multibagger, having delivered significant returns to its investors.
In 2024 alone, the stock has surged by 118 percent in just eight months.
Over the past year, it has provided a 262 percent return, and over two years, an impressive 425 percent return.
The stock’s lowest price in the last 52 weeks was Rs 49, while it reached a high of Rs 198.30.
