NBCC turns ex-stock split in the ratio of 1 for 1; shares up 6%

(Photo courtesy: Twitter/NBCC)
Shares of NBCC (India) was up 6% to Rs 109 on the BSE in early morning trade after the stock turned ex-stock split in the ratio of 1:1.

NBCC (India), the state-owned construction & engineering company had announced on February 13, 2017 splitting its stock from the face value of Rs 2 each to Re 1 each to enhance liquidity in trading.

The Company has fixed Thursday, April 26, 2018 as record date for determining the shareholders entitled for sub-division of equity shares of Rs 2 each into two equity shares of face value of Rs 1 each.

In past one year, NBCC (India) had underperformed the market by gaining 6% as compared to 17% rise in the S&P BSE Sensex till Tuesday.

At 11:18 am; the stock was trading 4% higher at Rs 107 on the BSE, against 0.21% decline in the benchmark index. A combined 4.58 million shares changed hands on the counter on the NSE and BSE so far.