NBCC gained 1.7% to Rs 752 at 11:50 IST on BSE after forming strategic partnership by executing memorandum of business exploration with Malaysian joint venture company, China Railway Engineering Corporation (M) Sdn Bhd & Amona Group.
The company made announcement after market hours yesterday, 10 June 2015.
Meanwhile, the S&P BSE Sensex was down 272.75 points, or 1.02%, to 26,567.75.
On BSE, so far 69,424 shares were traded in SPARC's counter, compared with an average volume of 1.16 lakh shares in the past one quarter.
The stock hit a high of Rs 765 and a low of Rs 748.70 so far during the day. The stock hit a record high of Rs 1,087 on 4 March 2015. The stock hit a 52-week low of Rs 289.10 on 13 June 2014.
The stock had underperformed the market over the past one month till 10 June 2015, declining 2.4% compared with 0.98% decline in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 26.53% as against Sensex's 6.51% fall.
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The large-cap stock has an equity capital of Rs 120 crore. Face value per share is Rs 10.
National Buildings Construction Corporation (NBCC) said that to contribute to the objectives of Government of India (GOI), NBCC is currently working on re-development of various scheme(s) in the capital, New Delhi. The Government of India is intending to develop smart cities and redevelopment of existing cities including improvement of quality of civic amenities.
Further, NBCC has formed strategic partnership by executing memorandum of business exploration on 10 June 2015, with Malaysian joint venture company, China Railway Engineering Corporation (M) Sdn Bhd & Amona Group for exploring further areas of re-development around New Delhi railway station.
On a consolidated basis, NBCC's net profit rose 30.1% to Rs 133.64 crore on 24.7% rise in total income to Rs 1849.52 crore in Q4 March 2015 over Q4 March 2014.
NBCC is a blue-chip Government of India Navratna Enterprise under the Ministry of Urban Development, in construction sector.
The Government of India held 90% stake in the firm (as per shareholding pattern as on 31 March 2015).
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