Navratna Dividend PSU Bags Rs 15,000 Cr Order, Buy Recommended For TP Rs 205: Motilal Oswal

Mid cap Navratna company from construction sector, NBCC (India) Ltd shares today witnessed sharp rally of 7.34% on BSE after the company informed about receiving an order worth Rs 15,000 crore from Srinagar Development Authority. The order involves development of Satellite Township spread over 406 acres at Rakh-e-Gund Akshah, Bemina, Srinagar ( J&K). Current market price of NBCC (India) shares on BSE is Rs 181.30 per share. NBCC (India) shares offered shareholders attractive returns of 271% in last 1-year only and 122% year-to-date (YTD). Life Insurance Corporation Of India has 5.96% stake in NBCC with 107,325,394 shares of the company. The company also recommended Re 0.63 per share final dividend on May 28 with record date yet to be fixed. Check details below:

NBCC (India) Dividend: According to the BSE filing of NBCC (India) issued as on 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 @630/o i.e. Rs. O.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) Shares Performance: NBCC (India) shares soared 39% in last 3-months, gained 422% in last 2-years, and rose 279% in last 3-years. In last 5-years, NBCC (India) share gained 424%. The 52-week high price of NBCC share on BSE is Rs 198.25 apiece (as on 09/07/2024) and 52-week low price is Rs 46.61 apiece (as on 14/08/2023), respectively.

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.

NBCC Dividend History: NBCC (India) announced 14 dividends since August 30, 2012. In last 1-year, NBCC (India) announced an equity dividend amounting to Re 0.54 per share. At the current share price of Rs 181.50 per share, NBCC (India) Ltd offers a dividend yield of 0.30%.

Motilal Oswal Recommends Buy Call: Motilal Oswal has buy call on NBCC (India) shares with a long-term target of Rs 205. The analyst suggested investors to maintain a stop loss at Rs 145.

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."

About NBCC: Founded in 1960 as a Govt. 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 Motilal Oswal. 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.