NCC shares rose 3 percent on June 2 as analysts are optimistic about the current order book of the company. "The current order book provides strong visibility, which will drive approximately 18 percent topline CAGR (Compounded Annual Growth Rate) over FY23-25 along with margins improvement,” according to ICICI Securities.
The domestic brokerage firm highlighted that NCC’s order book at the end of FY23 was at an elevated level of Rs 50,244 crore, which is 3.8 times order book to Trailing Twelve Month bill ratio.
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At 9:53 am, NCC was quoting at Rs 125.30, up 1.87 percent. In the past one week, the stock is up 10 percent while it has rallied close to 50 percent YTD.
NCC bagged new orders aggregating Rs 2,088 crore in May 2023. Out of which the Building Division has signed agreements for orders amounting Rs 1,668 crore and the Water Division secured order for Rs 420 crore. These orders are received from state government agencies and does not include any internal orders, the company had said in an exchange filing on June 1.
NCC is engaged in construction and project activities in the infrastructure sector.
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