NBCC India stock price rose 8% following the announcement that the company plans to consider a bonus issue on August 31.
The board of directors of NBCC (India) is scheduled to meet on August 31, 2024, to consider the proposal for issuing bonus shares to equity shareholders. This potential issue will be accomplished through the capitalization of reserves, pending shareholder approval and the ratio determined by the board.
Shares of NBCC (India) surged 8 percent in early trading on August 28, following the announcement that the company would consider a bonus issue. The news led to strong buying in NBCC shares, lifting the stock to its day's high of Rs 192.60 on the NSE, inching closer to its all-time high of Rs 198.30.