NBCC Trades 1:2 EX-Bonus; Stock Down 9%

The stock dipped 9% to Rs 175 on the BSE in intra-day trade.

 NBCC (India) dipped 9% to Rs 175 on the BSE in intra-day trade after the stock turned ex-bonus in the ratio of 1:2.

The board state-owned construction & engineering company on January 4, 2017 recommended the issue of bonus shares in the ratio of 1:2 i.e. 1 bonus share of Rs 2 each on every existing 2  fully paid-up equity shares of Rs 2 each.

The company has fixed February 21, 2017 as the record date for the purpose of issue of ascertaining the eligibility of shareholders for issuance of bonus shares.

Since January 4, the stock had outperformed the market by surging 17% as compared to 6% rise in the S&P BSE Sensex till Thursday.

The trading volumes on the counter nearly doubled with a combined 1.69 million shares changed hands on the NSE and BSE till 09:50 am.

Reference - http://www.business-standard.com/article/markets/nbcc-trades-1-2-ex-bonus-stock-down-9-117021700196_1.html