 "Jaypee's CoC will meet on May 9 to discuss NBCC's revised bid")
Shares of NBCC surged by 11 per cent at Rs 159.50 per share on the BSE in Tuesday’s intraday trade. The shares of the company have zoomed 98.14 per cent in the last six months, while rallying 278 per cent in the last one year.
This came after NBCC today announced that it has bagged new orders worth Rs 878.17 crore from multiple government entities.
The state owned civil construction company in an exchange filing said that it has received an order worth Rs 700 crore from Kochi Metro Rail Limited (KMRL). The contract order involves development of 17.4 acres (5 contiguous land parcels) located in Kakkanad Ernakulam District of Kochi.
Other orders included construction of Oil India Limited’s centralised core repository with advanced laboratory facilities at Guwahati, Assam with an order value of Rs 99.84 crore.
NBCC also received orders from Hindu College, University of Delhi and Institute of Company Secretaries of India (ICSI) with a combined order amount of Rs 78.33 crores.
NBCC, formerly known as National Buildings Construction Corporation is a public sector undertaking company under the Ministry of Housing and Urban Affairs, Government of India. It is engaged in projects spanning various sectors including institutional, housing, industrial & environmental, transportation, and power.
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At 14:29 PM; the stock of the company hiked by 10.78 per cent at Rs 158.30 per share. By comparison, the BSE Sensex rose by 0.25 per cent.
The shares of the company are trading at price to earnings valuation of 74.69 times with an earning per share of Rs 1.91, shows data from BSE.
