NBCC (India) hits record high

The company has initiated the process to dispose off the land/immovable assets of sick CPSEs.

NBCC (India) hit a record high of Rs 201.75, up 4% on BSE in otherwise range-bound market, after the company said it has initiated the process to dispose off the land and other immovable assets of sick central public sector enterprises (CPSEs).

NBCC, the state-owned construction company, on September 19 last year had been nominated by the government as the land management agency (LMA) to dispose-off the land/immovable assets of the sick CPSEs.

Accordingly NBCC has initiated the process and advertisement to this effect," the company said in a BSE filing.

In past one month, the stock outperformed the market by gaining 16% as compared to 3% rise in the S&P BSE Sensex.

At 10:02 am; it was up 2.6% at Rs 199 against 0.18% decline in the benchmark index. A combined 1.69 million shares changed hands on the counter on BSE and NSE so far.