NBCC (India) rose 2.62% to Rs 207.80 at 11:35 IST on BSE after the company signed a MoU with Rail Development Authority for re-development of 10 railway stations with Smart City features.
The announcement was made after market hours on Friday, 30 June 2017.Meanwhile, the S&P BSE Sensex was up 287.39 points, or 0.93% to 31,209
On the BSE, 1.35 lakh shares were traded in the counter so far, compared with average daily volumes of 1.92 lakh shares in the past one quarter. The stock had hit a high of Rs 209.35 and a low of Rs 203.50 so far during the day. The stock hit a record high of Rs 213.70 on 22 June 2017. The stock hit a 52-week low of Rs 126 on 1 July 2016.
The stock had outperformed the market over the past one month till 30 June 2017, rising 4.92% compared with the Sensex's 0.76% fall. The scrip had also outperformed the market over the past one quarter advancing 17.66% as against the Sensex's 4.3% rise. The scrip had also outperformed the market over the past one year surging 57.31% as against the Sensex's 14.53% rise.
The large-cap company has equity capital of Rs 180 crore. Face value per share is Rs 2.
NBCC (India) and Rail Development Authority, a statutory authority under the Ministry of Railways have signed a Memorandum of Understanding (MoU) for re-development of 10 Railway stations i.e. Tirupati, Pudducherry, Eranakulam, Nellore, Madgaon, Thane, Lucknow, Kota, Gomati Nagar (Lucknow) and Sarai Rohilla (Delhi). The re-development of railway station would be integrated with Smart City features.
The project would be developed on self sustainable finance model through commercial exploitation of vacant railways land, NBCC (India) said. Commercial built up space having Business Centre, Offices, F&B courts, Restaurants, Hotels, Retails, IT/Ites & air space over tracks shall be leased out to generate funds for development of stations, the company said.
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Meanwhile in a separate announcement made during market hours today, 3 July 2017, NBCC (India) said that the company has signed a Memorandum of Understanding (MoU) with South Delhi Municipal Corporation (SDMC), Delhi for planning, designing and construction of office building / SDMC headquarters near Pragati Maidan, New Delhi amounting to Rs 525 crore (approximately).
On a consolidated basis, NBCC (India)'s net profit rose 39.03% to Rs 173.97 crore on 4.94% increase in net sales to Rs 2351.78 crore in Q4 March 2017 over Q4 March 2016.
NBCC (India), a blue-chip Government of India (GoI) Navratna enterprise under the Ministry of Urban Development, is present in three segments of operations including project management consultancy (PMC), real estate development and EPC contracting. The GoI held 75% stake in the firm (as per shareholding pattern as on 31 March 2017).
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