NBCC To Consider Issuing Bonus Shares On Aug. 31

NBCC India Ltd. will consider issuing bonus shares to its shareholders after it gets approval from the board in the upcoming meeting on Aug. 31.

The trading window for the company's share will be closed from Aug. 28 till 48 hours post the conclusion of the board meeting, according to an exchange filing on Tuesday.

State-owned NBCC's profit rose by 38% to Rs 107.19 crore year-on-year for the April-June quarter in 2024, as compared to Rs 77.41 crore for the same period last year.

The public sector undertaking's income surged to Rs 2,197.83 crore for the quarter ended June 2024, as compared to Rs 1,974.03 crore in the same period last year.

In the latest conference call of the company, the management concluded that the company has a cash balance of Rs 2,200 crore on a standalone basis.

Shares of NBCC closed 0.99% higher at Rs 177.65 per share on the BSE, as compared to a 0.02% rise in the benchmark Sensex.