NCC jumped 6.25% to Rs 27.20 after the company said it received four new orders for Rs 1136 crore in May 2020.
The orders were received from state government agencies and do not include any internal orders, the company said in a statement. From the total order win, two orders totaling to Rs 993 crore pertain to water division and two order totaling to Rs 143 crore pertain to building division. The announcement was made after market hours yesterday, 1 June 2020.
Meanwhile, Aditya Birla Sun Life Insurance Company purchased 40 lakh shares, or 0.66% stake, in NCC via bulk deal on NSE on Monday (1 June). Shares were bought at an average price of Rs 25.92 each.
NCC's consolidated net profit dropped 65.5% to Rs 60.56 crore on a 37.9% decline in net sales to Rs 2,334.14 crore in Q3 December 2019 over Q3 December 2018.
NCC is engaged in the construction/project activities in the infrastructure sector. The firm is involved in the construction of industrial and commercial buildings, roads, bridges and flyovers, water supply and environment projects, housing, power transmission lines, irrigation and hydrothermal power projects and real estate development.
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