NBCC (National Buildings Construction Corporation) receives 13 orders including residential and commercial projects. It is a public sector undertaking (PSU) working under the Ministry of Housing & Urban Affairs. NBCC has contributed to several projects earlier as well. The infrastructural development projects in the country bring more work to NBCC leading to an increase in its share price as well. With a deal of around Rs. 500 crore, the company had a rally in the share price by 7.23% today.
NBCC Share Price Rally After Receiving 13 Orders Worth Approx ₹500 Crore
NBCC has seen a 7% surge in the share price after receiving 13 orders related to construction. The biggest order among these is for Rs. 130 Crores where the residential construction will occur on the government property. Other orders include both government and private projects. The total amount for these 13 projects is Rs. 491.45 Crores, almost close to Rs. 500 Crores.
While the second highest project is for Rs. 112 Crores. It will be at Mumbai’s Antopm Hill. The plan is to set up a healthcare complex at the place to allow easy access to medical care to the people. NBCC has a lot of work pending at the moment. The construction will take place completely in some time. The projects increased its value in the market where the company’s chat had a gap after the news.
It led to a sudden increase in the share price of NBCC to 7%. The market opened at Rs. 136.75. While it closed at Rs. 139.05 per share. It has a low of Rs. 135.50 per share. While its high was at Rs. 141 per share. If we look at the one-year performance, the share has performed quite well with a growth of 225.6%. It has increased by 96.3 points in one year. NBCC’s share fell in the previous year. However, it made a curve in the year giving benefits to those who hold it for the year.
NBCC India not only has a good market performance and deals, but it also has a good sales number. The firm declares a profit of 24.6% to Rs. 141.5 Crores for Q4 2024. Apart from that, the revenue rose by 43% YoY to Rs. 4,025 Crores. NBCC deals in big construction projects. Thus, the company is also looking to start its own non-banking finance company. It will help in cost-cutting on high-interest borrowings. The company expects to double its profit further. The share price for the company is expected to remain stable for the coming months.