NBCC India Shares Surge Following Bonus Share Announcement

NBCC India Limited has witnessed a significant increase in its share price, gaining over 7% in early trading on Wednesday, August 28, 2024. This upward trend follows the company’s announcement that the board will consider a proposal for issuing bonus shares at its upcoming meeting on August 31, 2024.

On the last trading day, NBCC India opened at ₹187 and closed at ₹177.65, with the shares experiencing a high of ₹194 and a low of ₹186.35. The company’s market capitalization is valued at ₹34,803 crore, indicating robust market confidence.

During the trading session, the NBCC shares reached a high of ₹209.75 and a low of ₹186.35, showcasing a notable range in trading activity. The volume of shares traded surged by 617.71% compared to the previous day, which is a crucial indicator of market interest.

The Technical Analysis suggests that the short-term trend for NBCC India shares is bullish, and the long-term trend is also bullish. This aligns with the positive market sentiment and increased trading volume observed.

It is essential for traders and investors to monitor the support and resistance levels, as the stock surpassed key daily resistance price levels. As noted, the stock is experiencing significant buying interest, prompting speculation about further price escalation.