NBCC's HSCC Secures ₹1,260 Crore AIIMS Project in Bihar

23 Sep 2024 , 03:31 PM

National Building Construction Company (NBCC) Ltd. announced that its wholly-owned subsidiary, HSCC (India) Ltd., has secured a significant order.

HSCC India received a ₹1,260 Crore contract from the Ministry of Health and Family Welfare, Government of India, to establish an All India Institute of Medical Sciences (AIIMS) in Darbhanga, Bihar.

Specific details regarding the order’s scope and execution timeline have yet to be disclosed. Earlier this month, NBCC signed a Memorandum of Understanding (MoU) with MTNL Ltd. to develop a prime land parcel of 13.88 acres in New Delhi, valued at ₹1,600 Crore.

In a move to reward shareholders, NBCC has approved a bonus share issuance in a 1:2 ratio, meaning shareholders will receive one bonus share for every two shares held as of the record date.

The record date for this bonus issue is set for October 7, 2024. This marks the first bonus issue proposal since 2017, when a similar 1:2 bonus was declared.

At the time of writing on September 23, 2024, at 3:28 pm, National Building Construction Company (NBCC) Ltd is trading at ₹176, reflecting a 1.59% gain from the previous closing price. Over the past year, National Building Construction Company (NBCC) Ltd stock has witnessed a 206% gain, and it has gained 116% since the beginning of the current year.