1:2 Bonus Issue: PSU Navratna Company Secures Multiple Orders Worth Rs 368.75 Crore – Stock Surges Over 270 Per cent in 2 Years!
The company’s shares have delivered an impressive return of over 70 per cent in the past 1 year only.
NBCC (India) Ltd a Small-Cap PSU company has recently secured multiple prestigious projects with a combined approximate value of Rs 368.75 crore. These projects include the construction of the Mehta Family School of Data Science and Artificial Intelligence at IIT Roorkee, Uttarakhand, featuring internal electrical installations, HVAC systems, firefighting and fire alarm systems, lifts, audio-visual systems, CCTV, and building management systems, along with associated development works, valued at Rs 24.38 crore.
Additionally, the company will undertake the development of the Jawaharlal Nehru Commercial Complex (JLNCC) at Englishya Lines, Varanasi, Uttar Pradesh, on a self-sustainable model for the Varanasi Development Authority (VDA), with an approximate value of Rs 300 crore. Another key project awarded to NBCC is the construction and furnishing of a 500-bed multi-storey “Vishram Sadan” at AIIMS Gorakhpur, Uttar Pradesh, commissioned by the Power Grid Corporation of India Ltd., valued at Rs 44.37 crore.
NBCC (India) Ltd is a Government of India Navratna Enterprise under the Ministry of Housing and Urban Affairs. The company operates in three major segments: Project Management Consultancy, Engineering Procurement & Construction, and Real Estate.
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Furthermore, the Board of Directors of the Company, in its meeting held on October 9, 2024, allotted 90 crore (900,000,000) fully paid-up bonus Shares with a face value of Rs 1 each. The bonus issue was in the ratio of 1:2, granting one new fully paid-up bonus equity share of Rs 1 for every two existing fully paid-up equity shares of Rs 1 held by shareholders as of the record date, Monday, October 7, 2024.
The shares of NBCC (India) Ltd are at around Rs 92.79 per share. The company’s current market capitalization stands at Rs 25,053 crore. The stock has delivered an impressive return of over 70 per cent in just 1 year.
Regarding the shareholding pattern, the promoters own 61.75 per cent of the company, while public or retail investors hold 25.05 per cent. Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) own 4.05 per cent and 9.13 per cent, respectively. DIIs have increased their stake from 9.10 per cent to 9.13 per cent in October 2024.
Investors must keep this stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.