NBCC Wins Project Worth Rs 101 Crore From NHAI; Shares Gain

NBCC (India) Ltd. bagged a project worth Rs 101 crore from the National Highways Authority of India.

The project was awarded for the construction of a permanent office building in respect of regional offices and project implementation units of NHAI, according to an exchange filing on Monday.

The company last week received an order worth Rs 75 crore from the Indian Institute of Information Technology, Nagpur. The order requires a project management consultant to oversee the construction and development of various infrastructure works at IIIT Nagpur.

Earlier, NBCC sold 100% of its office space worth Rs 13,408.7 crore at the World Trade Centre at Nauroji Nagar, New Delhi. The aggregate value of office and commercial space sold by NBCC through the e-auction was Rs 14,800 crore.

Shares of NBCC rose as much as 1.17% to Rs 179.5 apiece on the NSE. The stock was trading 0.97% higher at Rs 179.1 apiece, compared to a 1.09% decline in the benchmark Nifty 50 as of 12:31 p.m.

It has risen 207% during the last 12 months and 119% on a year-to-date basis. The relative strength index was at 51.

One out of the four analysts tracking the company has a 'buy' rating on the stock, one suggests a 'hold' and two have a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 10.5%.