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NBCC share price gains on bagging office building contract in Noida

NBCC Limited has been awarded the work order for engagement as project management consultant for the construction of FCIL office building in Noida's Sector 1, the company has said.

April 13, 2021 / 10:07 AM IST
NBCC (India) | NBCC (India) said it has been awarded the work order for engagement as project management consultant (PMC) for construction of FCIL office building at Noida, Sector-1. NBCC is the project management consultant for this project value of Rs 65.10 crore at PMC fee of 7 percent.

NBCC (India) | NBCC (India) said it has been awarded the work order for engagement as project management consultant (PMC) for construction of FCIL office building at Noida, Sector-1. NBCC is the project management consultant for this project value of Rs 65.10 crore at PMC fee of 7 percent.

 
 
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NBCC (India) share price was up over 3 percent intraday on April 13 after the government's construction arm said it has been picked as a project management consultant (PMC) for the construction of FCIL office building at Noida.

"This is to inform that NBCC (India) Limited has been awarded the work order for engagement as Project Management Consultant (PMC) for Construction of FCIL office building at Noida, Sector -1 on April 9, 2021. NBCC is the Project Management Consultant for this project value of Rs 65.10 crore at PMC fee of seven percent," the company said.

On April 12, Jaypee Infratech Limited (JIL) creditors committee reviewed the bids submitted by NBCC and a consortium of Suraksha Realty-Lakshdeep Investments and Finance Private, CNBC-TV18 reported.

The was the first meeting of the committee after the Supreme Court order on March 24 asked the interim resolution professional (IRP) of Jaypee Infratech to complete insolvency proceedings in 45 days. The court said IRP could invite modified or fresh resolution plans only from Suraksha Realty and NBCC, the two applicants who were allowed to do so in a judgment on November 6, 2019.

The committee found both the bids to be lower than those submitted in the previous round, the report said.

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The stock was trading at Rs 42.45, up Rs 1.15, or 2.78 percent, at 0946 hours. It has touched an intraday high of Rs 42.85 and an intraday low of Rs 41.55.
Moneycontrol News
first published: Apr 13, 2021 10:07 am

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