NBCC shares advance nearly 2% on fixing record date for bonus shares

NEW DELHI: Shares of NBCC (India) advanced as much as 1.87 per cent in early trade on Monday after the company announced that it has fixed February 21, 2017 as the record date for 1:2 bonus issue of shares.

The scrip was trading 1.90 per cent up at Rs 279.50 in morning trade around 10.07 am (IST). Shares of the company opened at Rs 274.50 and touched a high and low of Rs 279.85 and Rs 274.35, respectively, in trade so far. Benchmark BSE Sensex was trading almost flat (up 2 points ) at 27,240 around the same time.

On the BSE, 62,000 shares exchanged hands so far as against the average daily volumes of 3.57 lakh shares in the past two week.

The company made the announcement after market hours on Friday.

For the quarter ended September 30, 2016, the company reported a consolidated net profit of Rs 69.11 crore, up 1.42 per cent, against Rs 68.14 crore in the corresponding quarter last year. Net sales of NBCC jumped 15.75 per cent on a year-on-year basis to Rs 1224.41 crore.

It had reported revenue of Rs 1057.3 crore in the corresponding quarter last year.