NBCC (India) advances after new order win

NBCC (India) rose 2.26% to Rs 257.85 at 09:18 IST on BSE after the company secured contract worth approximately Rs 440 crore from ESIC, Ministry of Labour & Employment.

The announcement was made after market hours yesterday, 20 September 2016.

Meanwhile, the S&P BSE Sensex was up 34.50 points or 0.12% at 28,557.70

On BSE, so far 31,000 shares were traded in the counter as against average daily volume of 2.44 lakh shares in the past one quarter. The stock hit a high of Rs 259.90 and a low of Rs 257.25 so far during the day. The stock had hit a record high of Rs 267 on 13 July 2016. The stock had hit a 52-week low of Rs 162 on 12 February 2016.

 

The large-cap company has equity capital of Rs 120 crore. Face value per share is Rs 2.

NBCC (India) secured a contract worth approximately Rs 440 crore from ESIC, Ministry of Labour & Employment, Government of India for construction of 100 bedded hospital(s) at Haridwar and Dehradun (Uttarakhand) and 300 bedded hospital at Indore, Madhya Pradesh.

Shares of NBCC (India) rose 0.16% to settle at Rs 252.15 yesterday, 20 September 2016 after the company was nominated as the Land Management Agency for disposal of land assets of the sick central public sector enterprises (CPSEs). NBCC (India) as LMA, will manage, maintain and protect the land assets of sick CPSEs and shall be paid fee for the same till it is disposed off. NBCC (India) will be paid 0.5% of the value realized from disposal of land, subject to maximum of Rs 1 crore in each case. The announcement was made after market hours on 19 September 2016.

NBCC (India)'s consolidated net profit rose 16.4% to Rs 47.10 crore on 15.1% rise in net sales to Rs 1254.31 crore in Q1 June 2016 over Q1 June 2015.

NBCC (India) is a blue-chip Government of India (GoI) Navratna Enterprise under the Ministry of Urban Development, in construction sector. The GoI held 90% stake in the firm (as per shareholding pattern as on 30 June 2016).

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