NCC stock price up 5% after company fixes record date for dividend payout

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NCC in focus: Shares of construction company NCC Limited jumped as much as 5.36 per cent to hit an intraday high of Rs 326.25 per share on Monday, August 19, 2024. 

The share price rose after the company announced that it has fixed the record date for dividend payouts. The record date for determining the shareholders who are eligible for the equity dividend is August 30, 2024, NCC said. 

In an exchange filing, NCC said, “We hereby inform you that the company has fixed Friday August 30, 2024 as the record date for determining the shareholders who are eligible for the equity dividend as recommended by the board of directors at its meeting held on May 15, 2024, subject to approval of the Members at the forthcoming Annual General Meeting.”

Furthermore, the cut-off date for the purpose of determining eligibility of members for e-voting is Saturday, September 7, 2024, the company said in a statement.

Set up in 1978, NCC Limited specialises in turnkey engineering, procurement an deconstruction (EPC) contracts and build, operator and transfer (BOT) projects under Public-Private Partnership (PPP) models. 

The company is involved in a diverse range of sectors including road construction, building projects, irrigation, water and environmental services, electrical works, metals, mining, and railways. 

Additionally, NCC holds major stakes in road and energy projects through its 62.1% ownership of NCC Infrastructure Holdings Limited and in real estate via its 80% ownership of NCC Urban Infrastructure. 

The company extends its reach to the Middle East through subsidiaries based in Muscat and Dubai. 

In FY24, NCC ventured into the Smart Metres segment, securing three projects valued at Rs 8080 crore. The company has commenced field trials of Smart Metres in Bihar and is preparing to initiate trials in Maharashtra next month.

The market capitalisation of NCC is Rs 20,417.57 crore, according to Bombay Stock Exchange (BSE).

The 52-week high of NCC stock is Rs 364.50 while its 52-week low is Rs 136.55 per share. 

At 11:30 AM, shares of NCC were trading 4.89 per cent higher at Rs 324.80 per share. By comparison, S&P BSE Sensex was trading 0.06 per cent higher at 80,486.51 levels.