NBCC to issue one bonus share on every two

State-owned construction firm NBCC today said it will issue one bonus share on every two held in the company this fiscal.
In a BSE filing, the company said the Board of Directors in a meeting today recommended the issue of one bonus share on every existing two held in the company.
A total 30 crore bonus shares will issued at a face value of Rs 2 per share, amounting to Rs 60 crore.
The bonus shares, to be issued on or before March 3, 2017, will be given from the free reserves created out of the company's profits.
The company had Rs 1,368.50 crore in its free reserves as on March 31, 2016.

The shares of the company fell by 2.95 per cent to Rs 246.95 a piece on the BSE today after this decision.