NCC jumps 4% as firm bags Rs 4,200 crore water, infra orders

From its 52-week high of Rs 176.60, NCC shares have fallen 9.1 percent

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Rekha Jhunjhunwala-backed NCC jumped 4 percent on October 3, after the construction company said it received three orders worth Rs 4,205.94 crore (excluding GST) in September. As of 12.40 pm, the NCC stock was trading at Rs 160.70 on NSE.

The three orders are from state and Union government agencies. One order worth Rs 819.2 crore is for the water division; the second order worth Rs 173.19 crore is for the electrical division; and the third order with NCC's share worth Rs 3,213.55 crore is for the transport division.

The transport order, given by Mumbai's Brihanmumbai Municipal Corporation (BMC) to the joint venture between J Kumar and NCC, is valued at Rs 6,301.08 crore. The sharing ratio of the parties in the JV is NCC at 51 percent & J Kumar Infra Projects at 49 percent.

The order is for the design, construction and operation of a twin tunnel from Film City Goregaon to Mulund, including a box tunnel at Film City, along with electrical, mechanical and associated work. The duration of the project is five years and the O&M is for 10 years.

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As of June 2023, the promoters held a 22 percent stake in the construction major, while domestic institutional investors (DIIs) and foreign institutional investors (FIIs) held 12.3 percent and 22.5 percent. Of the DIIs, mutual funds held 9.4 percent. The public has a 43.2 percent share in NCC.

From its 52-week high of Rs 176.60, NCC shares are trading lower by 9.1 percent. Over the past six months, the stock price has seen a sharp gain of 50.21 percent. Investors have seen their wealth double in a year, as NCC's stock surged 127.09 percent in one year.

Disclaimer: The views and investment tips expressed by 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 making any investment decisions.