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

The project was awarded to NBCC for the construction of a permanent office building in respect of regional offices and project implementation units of NHAI.

NBCC stock rose as much as 1.17% during the day to Rs 179.5 apiece on the NSE. 

Office complex executed by NBCC (India) in New Delhi. (Source: Company website.)

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.

Also Read: NBCC Seeks Supreme Court Approval To Complete 17 Stalled Supertech Projects

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%.

Also Read: Stock Market Today: Nifty, Sensex Record Worst Day In Nearly Two Months As RIL, ICICI Bank Weigh

Watch LIVE TV , Get Stock Market Updates, Top Business , IPO and Latest News on NDTV Profit.
WRITTEN BY
Sai Aravindh
Sai Aravindh is a desk writer at NDTV Profit, where he covers business and ... more
GET REGULAR UPDATES