NCC Shares Surge After Securing Orders Worth Rs 355 Crore In June
The stock rose as much as 2.28% during the day to Rs 323.65 apiece on the NSE.
Shares of NCC Ltd. rose over 2% on Monday after the construction firm received orders worth Rs 355 crore in June relating to the building division.
The company informed the exchanges that they received these orders from a private limited company and that it does not include any internal orders. It did not reveal details about the project timeline or specific deliverables.
NCC's stock rose as much as 2.28% during the day to Rs 323.65 apiece on the NSE. It was trading 1.37% higher at Rs 320.75 per share, compared to a 0.52% advance in the benchmark Nifty as of 2:32 p.m.
The share price has risen 163.86% in the last 12 months and 92.92% on a year-to-date basis. The relative strength index was at 56.84.
Thirteen out of the 16 analysts tracking the company have a 'buy' rating on the stock, two recommend 'hold' and one suggests 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 10%.
