National Buildings Construction Corporation (NBCC) has surged 10% to Rs 120 extending its previous day’s 5% gain on back of heavy volumes after the company said that government of India has granted Mini Ratna status under category-I to the company.
“The status granted on the basis of its performance upon fulfiling the criteria prescribed by department of public enterprises. Thus, enabling the Company to enter into joint ventures, set subsidiary companies, overseas offices with certain conditions,” NBCC said in a filing.
The stock opened at Rs 110 and hit a high of Rs 122, its highest level since April 2012 on the BSE. As many as a combined 1.54 million shares have already changed hands on the counter so far against an average less than 100,000 shares that were traded daily in past two weeks.