1:2 Bonus Issue, 63% Dividend: Buy NBCC Shares After 11.01% Correction, Rs 1385 Cr Order In Oct?

Navaratna PSU NBCC (India) Ltd shares today plummeted nearly 4.40% to Rs 103.20 per share on BSE. NBCC (India) shares witnessed decline of over 9% in last 1-week and gained an impressive 89% in 2024 only. The company in the month of October bagged several orders approximately Rs 1385 crore. Its market capitalisation stood at Rs 27,864.00 crore. Life Insurance Corporation of India (LIC) has 5.11% stake in NBCC with 137,911,863 shares of the company. Its ROE is 17.20 and PE is 52.82. Earlier, NBCC recommended 1:2 bonus issue and recommended a dividend of Re 0.63 per share with ex-date fixed as September 6, 2024. NBCC shares traded ex-bonus on October 7, 2024. Check details below:

NBCC (India) Shares Performance: NBCC (India) shares slipped 11.01% in last 2-weeks, fell 10% in last 3-months, gained 125% in last 1-year, and soared 379% in last 2-years. The 52-week high price of NBCC (India) shares on BSE is Rs 139.90 per share (as on 28/08/2024) and 52-week low price is Rs 40.52 per share (as on 26/10/2023), respectively.

Should You Buy NBCC (India) Shares After Decline of 11.01% In 1-Week? According to A R Ramachandran, Independent SEBI Research Analyst, "NBCC is bearish on the Daily charts with strong resistance at 110.3. A Daily close above this resistance could lead to target of 124 in the near term. Strong support will be at 101."
NBCC (India) Shareholding: FII/FPI have decreased holdings from 4.43% to 4.11% in September 2024 quarter.

Number of FII/FPI investors surged from 155 to 173 in September 2024 quarter. Mutual Funds have increased holdings from 3.04% to 3.45% in September 2024 quarter. Number of MF schemes zoomed from 13 to 18 in September 2024 quarter. Institutional Investors reduced holdings from 13.91% to 13.21% in September 2024 quarter, according to Trendlyne.

NBCC Dividend In 2024: It set September 06, 2024 as the record date for final dividend of Rs. 0.63/- per paid up equity share of Rs. 1/-each (i.e.@ 63%).

About: It came into existence in 1960 as a Government of India Civil Engineering Enterprise, NBCC with its Headquarter in Delhi, today, holds the status of Navratna CPSE, and has emerged as the undisputed leader in the Construction Sector on the back of its capabilities, innovative approach, adherence to highest standard of quality, timely delivery and a dedicated workforce.

Disclaimer:

The stock has been picked from the brokerage report of A R Ramachandran. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.