NBCC Shares Snap Two-Day Fall On 13 Order Wins Worth Rs 491 Crore
The largest order it received is worth Rs 130 crore and for the construction of residences at Ministry of External Affairs' plot in INA New Delhi.
Shares of NBCC (India) Ltd. snapped a two-day fall on Thursday after the company announced that it has received 13 orders with a total worth of Rs 491 crore.
The largest order it received is worth Rs 130 crore and for the construction of residences at the Ministry of External Affairs' plot in INA New Delhi. This follows an order worth Rs 112 crore from Central Government Health Scheme Mumbai for construction of multi-facility healthcare complex.
Other clients include Department of Social Security and Empowerment of Person with Disabilities, Odisha State Cooperative Bank Ltd., and Union Bank of India.
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Shares of NBCC rose as much as 8.42% during the day to Rs 141 apiece, the highest since June 4. It was trading 7.38% higher at Rs 139.60 apiece, compared to a 1.04% advance in the benchmark Nifty as of 10:43 a.m.
It has risen 71.37% on a year-to-date basis and 253% in the last 12 months. The total traded volume so far in the day stood at 0.69 times its 30-day average. The relative strength index was at 50.99.
Out of the five analysts tracking the company, one maintains a 'buy' rating, one recommends a 'hold' and three suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies a downside of 27.4%.
