Multibagger Navratna PSU Stock Under Rs 180 Issues Big Update On Subsidiary, Shares Rally

Mid cap Navratna company operating in construction sector, NBCC (India) Ltd shares today gained 5.03% on BSE after informing on April 28 that it has accorded the In-principle approval for incorporation of a wholly owned subsidiary in Dubai (UAE). Current market price of NBCC share on BSE is Rs 143.25 apiece. NBCC shares witnessed outstanding rally of 123% in last 6-months and 277% in last 2-years. NBCC has a market capitalisation of Rs 25,776.00 crore. More details below:

NBCC Issues New Update On Subsidiary In Dubai: As per the regulatory filing of the company dated April 28, 2024, "This is to inform that the Company (NBCC) has accorded the In-principle approval for incorporation of a wholly owned subsidiary in Dubai (UAE) subject to the approval of its Administrative Ministry i.e. Ministry of Housing and Urban Affairs (MoHUA). Further developments would be intimated in due course of time."

NBCC Stock Performance & Return: The 52-week high price of NBCC share on BSE is Rs 176.50 apiece (as on 05/02/2024) and 52-week low price is Rs 38.10 apiece (as on 28/06/2023), respectively. NBCC stock rallied 8.38% YTD, soared 53% in last 3-months, jumped 122% in last 1-year. NBCC shares offered shareholders return of 9Tj3% in last 2-years and rose 50% in last 5-years.

NBCC Dividend History: NBCC (India) Ltd. announced 14 dividends since Aug. 30, 2012. In the past 12 months, NBCC (India) Ltd. announced an equity dividend amounting to Re 0.54 per share. At the current share price of Rs 143.25 per share, NBCC (India) Ltd offers a dividend yield of 0.38%.

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 just highlights the rally in shares after update on subsidiary and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for ay losses. Please consult a professional advisor.