NBCC Shares Experience a 6% Jump as Stock Trades on Ex-Bonus Basis
NBCC Shares Price Boosted by Bonus Shares Announcement
Shares of NBCC (India) soared 6.25% to their day's high of Rs 119.80 on BSE today as the stock is now trading on an ex-bonus basis for the 1:2 bonus issue announced earlier. This means shareholders listed in the company's records as of today are eligible for the bonus share issuance.
The company has issued bonus shares to increase stock liquidity and lower the stock price, making it more attractive for investors. The Board of Directors recommended a ratio of 1 (One) new fully paid-up Equity Share for every 2 (Two) existing fully paid-up Equity Shares, subject to shareholders' approval in the forthcoming Annual General Meeting.
Key Dates and Historical Context
- Record Date: October 7, 2024
- Previous Bonus Issue: 2017
Over the past year, NBCC shares have gained an impressive 186%, showing a remarkable increase of 113.4% this calendar year. However, in the shorter term, the stock has seen a decrease of 7.4% in the last three months.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.