Shares of NBCC (India) were racing at the bourses on Wednesday, going up over 8% to hit an intraday high of ₹192.60.

What Happened: NBCC (India) Limited has announced a board meeting scheduled for Saturday, August 31, to consider the issuance of bonus shares to its equity shareholders. Record date for bonus issue if any is yet to be determined.

This potential move comes after a gap since the company’s last bonus share issue in 2017. At the time, NBCC declared a 1:2 bonus issue, meaning shareholders received one bonus share for every two that they held.

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Last week, NBCC also declared a record date for its final dividend payment for the financial year ended March 2024. The proposed dividend is ₹0.63 per equity share, pending approval at the company's annual general meeting (AGM).

The record date for the dividend is set for September 6. The state-owned company have bagged several orders during the month. The collective order inflow for the month is estimated to be over ₹16,000 crore.

Price Action: NBCC’s share price was up 7.11% to trade at ₹190.27 on Wednesday morning.

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