63% Dividend: Multibagger Navratna NBCC Declares Record Date, Buy For TP Rs 217

Mid cap Navratna company NBCC (India) Ltd today fixed September 6, 2024 as the record date for final dividend of Re 0.63 per equity share of the face value of Rs 1/0 each for the FY 2023-24. Current market price of NBCC (India) shares on BSE is Rs 178.35 per share with decline of 1.90% as on August 23, 2024. NBCC (India) shares slipped over 3% in last 2-weeks and gained 118% year-to-date. In last 1-year, NBCC India shares rose 252%. The company will hold its AGM on September 25, 2024. The PSU has a market capitalisation of Rs 32,103.00 crore. Check details below:

NBCC (India) Sets Record Date For Dividend: According to the regulatory filing of NBCC (India) issued as on August 24, 2024, "The Company has fixed Friday, September 06, 2024 as the Record Date for determining shareholders eligible to receive final dividend of Rs. 0.63/- per paid up equity share of Rs. 1/-each (i.e.@ 63%) for the FY 2023-24 subject to the approval of Shareholders at the 64th AGM of the shareholders."

NBCC (India) Dividend: As per the exchange filing of NBCC (India) dated May 28, 2024, "The Board of Directors of NBCC (India) Limited in their Board Meeting held on Tuesday May 28, 2024 recommended a final dividend @63% i.e. Rs. 0.63 /- per paid up equitY share of Rs. 1/- each (subject to deduction of TDS) for the FY 2023-24 subject to approval of shareholders in the ensuing Annual General Meeting. The final dividend (if declared) would be paid within 30 days from the date of declaration at the AGM."

NBCC (India) To Hold AGM Next Month: The exchange filing added, "It is hereby informed that the NBCC's 64th Annual General Meeting is scheduled to be held on Wednesday, September 25, 2024 at 12:00 Noon (IST) through "Video Conferencing (VC)/ Other Audio Visual Means (OAVM)"."

NBCC Bagged Rs 719 Crore Order On August 12: The PSU on August 12 received order worth Rs 719.97 crore from Institute of Company Secretaries of India (Rs 9.97 crore) and Jhansi Development Authority (Rs 710.00 crore).

NBCC (India) Shares Performance: The 52-week high price of NBCC (India) shares on BSE is Rs 198.25 per share (as on 09/07/2024) and 52-week low price is Rs 48.55 per share (as on 25/08/2023), respectively. NBCC (India) shares gave return of 19% in last 3-months, soared 443% in last 2-years, and zoomed 337% in last 3-years.
NBCC Bonus Share History: NBCC (India) offered 1 bonus issue since February 17, 2017. The last Bonus that NBCC (India) declared was in the ratio 1:2 with ex-bonus date set as February 17, 2017."

Shareholding: FII/FPI have increased holdings from 4.33% to 4.43% in June 2024 quarter. Number of FII/FPI investors increased from 119 to 155 in June 2024 quarter. Mutual Funds have increased holdings from 2.98% to 3.04% in June 2024 quarter. Number of MF schemes increased from 10 to 13 in June 2024 quarter, according to Trendlyne.

Should You Buy NBCC Shares? Brokerage firm StoxBox recommended buy call to NBCC shares with target price of Rs 217 for near term. According to the analyst, "NBCC's price action recently experienced a bullish breakout from a cup and handle pattern, signaling a potential trend reversal. Following the breakout, the price retested the demand zone near Rs 169 levels and continues to exhibit signs of accumulation. The stock demonstrates strong buyers' demand, EPS, and price strength and presents a low-risk, high-reward opportunity. Therefore, we suggest buying NBCC at the current market price with a target of Rs 217 and maintaining a stop loss at Rs 170."

About: Founded 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 StoxBox. 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.