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NBCC India surges 5% after firm secures orders worth Rs 916 crore

Two orders were awarded to NBCC India--one from HUDCO and another from the Minorities & Backward Classes Welfare Department, Government of Odisha.

November 28, 2024 / 10:56 IST
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    Shares of NBCC India surged as much as 5 percent in trade on November 28 as investors cheered for the company's recent order wins, worth a cumulative Rs 919 crore.

    At 10.42 am, shares of NBCC India were trading at Rs 98.67 on the NSE. The surge in the stock price was also triggered by a spike in trading volumes in the counter. As much as one crore shares changed hands on the exchanges so far, much higher than the one-month daily traded average of 81 lakh shares.

    The first order, worth Rs 600 crore was awarded by Housing & Urban Development Corporation Limited (HUDCO) for the development of 10 acre institutional plot at Noida, with NBCC India taking on the role of the project management consultant.

    The other order was touted by the ST & SC Development, Minorities & Backward Classes Welfare
    Department, Government of Odisha, was worth Rs 316 crore. The order involved the upgradation of the primary school hostel under the State Sector Scheme at various locations in Odisha.

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    Earlier this month, NBCC also bagged a Rs 500 crore order from the Bureau of Indian Standards (BIS) to construct buildings at five BIS locations. Aside from this, Mahatma Gandhi Kashi Vidyapith University, Varanasi, also awarded a Rs 44 crore contract to NBCC for the construction of a multipurpose examination hall-cum-innovation center.

    The company also secured a Rs 5 crore contract from Sampurnanand Sanskrit University, Varanasi, for the repair and renovation of Panani Bhawan/academic block.

    Another order worth Rs 186.46 crore contract was received for the renovation of the Power Grid Corporation of India's corporate office building located in Gurugram, Haryana.

    Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Moneycontrol News
    first published: Nov 28, 2024 10:56 am

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