NCC share jumps 5% on bagging order worth Rs 3,389-crore; details here

NCC share price: Construction company NCC Ltd share price surged up to 4.96 per cent to an intraday high of Rs 318 per share on Friday, November 29, 2024.

 

The NCC share price rose after the company announced that it has secured an order worth Rs 3,389.49 crore from Ken-Betwa Link Project Authority, Department of WR, RD & GR, Ministry of Jal Shakti, Govt. of India.

 

In an exchange filing, NCC Ltd said, “We are pleased to inform that, the Company has received Letter of Acceptance (LoA) dated November 28, 2024 from Ken-Betwa Link Project Authority regarding selection of the Company as the successful bidder for the EPC execution of Daudhan Dam under Ken-Betwa Link Project.”

 

Under the terms of the order, the company will be responsible for the planning, design and engineering and hydro-mechanical works on engineering, procurement and construction (EPC) basis.

 

The company is expected to complete the project in 72 months, NCC said in a statement. 

 

Established in 1978, NCC specialises in turnkey engineering, procurement an deconstruction (EPC) contracts and build, operator and transfer (BOT) projects under Public-Private Partnership (PPP) models. The company is involved in a diverse range of sectors including road construction, building projects, irrigation, water and environmental services, electrical works, metals, mining, and railways. 

 

Additionally, NCC holds major stakes in road and energy projects through its 62.1 per cent ownership of NCC Ltd Infrastructure Holdings Limited and in real estate via its 80 per cent ownership of NCC Urban Infrastructure. 

 

The company extends its reach to the Middle East through subsidiaries based in Muscat and Dubai. 

 

In FY24, NCC Ltd ventured into the Smart Metres segment, securing three projects valued at Rs 8080 crore. The company has commenced field trials of Smart Metres in Bihar and is preparing to initiate trials in Maharashtra next month.

 

The market capitalisation of NCC Ltd is Rs 19,726.94 crore, according to BSE. The company falls under the BSE 500 category.  The 52-week high of NCC Ltd share is Rs 364.50 while its 52-week low is Rs 154.70 per share. 

 

At 9:25 AM, the NCC share was trading 3.71 per cent higher at Rs 314.20 per share. By comparison, BSE Sensex was trading 0.20 per cent higher at 79,203.57 levels.