NBCC (India) rose 3.03% to Rs 214.25 at 13:50 IST on BSE after the company said it was awarded two contracts in the capacity of project management consultant.
The announcement was made during market hours today, 12 September 2017.Meanwhile, the S&P BSE Sensex was up 189.92 points, or 0.6% to 32,072.08.
More than usual volumes were witnessed on the counter. On the BSE, 2.61 lakh shares were traded in the counter so far, compared with average daily volumes of 1.5 lakh shares in the past one quarter. The stock had hit a high of Rs 217.25 and a low of Rs 208.80 so far during the day. The stock had hit a record high of Rs 219.30 on 3 August 2017. The stock had hit a 52-week low of Rs 133.07 on 9 November 2016.
The stock had outperformed the market over the past one month till 11 September 2017, gaining 4.11% compared with 2.14% gains in the Sensex. The scrip had also outperformed the market in past one quarter, rising 4.71% as against Sensex's 1.98% rise. The scrip had also outperformed the market in past one year, gaining 23.73% as against Sensex's 10.71% rise.
The large-cap company has equity capital of Rs 180 crore. Face value per share is Rs 2.
NBCC (India) said that it has been awarded contracts wherein the company is working as project management consultant and will get project management consultancy fee on the project cost at the rate of 6.5% and revenue booking from the projects will start from September 2017.
The first project entails redevelopment of ITPO Complex into integrated sxhibition-cum-convention centre (IECC) at Pragati Maidan, New Delhi to Shapoorji Pallonji and Co. - Shapoorji Pallonji Qatar W.L.L (JV) for around Rs 2149.93 crore with completion period of two years.
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The second project comprises of canal work including cross drainage structures & design for Gosikhurd National Project in Bhandara, Nagpur and Chandrapur Districts of Maharashtra to Punj Lloyd for around Rs 870.15 crore with completion period of eighteen months.
On a consolidated basis, net profit of NBCC (India) rose 25.7% to Rs 59.16 crore on 0.8% rise in net sales to Rs 1548.90 crore in Q1 June 2017 over Q1 June 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 30 June 2017).
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