NBCC (India) rose 0.23% to Rs 21.85 on reports the National Company Law Appellate Tribunal (NCLAT) on Wednesday asked the company to implement its proposal to acquire debt ridden Jaypee Infratech.
According to media reports, NCLAT on Wednesday (22 April) asked state-owned NBCC (India) to implement its proposal to acquire debt ridden Jaypee Infratech and complete over 20,000 pending flats, but said the direction is subject to its final order. It also allowed the interim resolution professional to proceed with constituting the interim monitoring committee for execution of the plan.On a consolidated basis, net profit tanked 40.8% to Rs 49.54 crore in Q3 December 2019 as against Rs 83.65 crore reported in Q3 December 2018. Net sales fell 20.3% to Rs 1,916.68 crore in Q3 December 2019 over Q3 December 2018.
NBCC (India) provides civil engineering construction services. The firm operates through three segments: Project Management Consultancy (PMC), Real Estate Development & Engineering, Procurement and Construction (EPC).
As of 31 December 2019, the Government of India held 64.95% stake in NBCC (India).
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