November 28, 2024
New Delhi, India
NBCC India Shares Surge on Fresh Orders
Shares of NBCC India Ltd climbed 5% on November 28, reflecting positive investor sentiment after the company announced significant order wins totaling ₹916 crore. By mid-morning, the stock was trading at ₹98.67 on the NSE, supported by heightened trading activity, with over one crore shares exchanging hands, surpassing the one-month daily average of 81 lakh shares.
This surge highlights the market’s confidence in NBCC’s operational strength. The stock has gained an impressive 82% year-to-date, cementing its position as a standout performer in 2024.
Major Contracts Secured
The company received two notable contracts:
- HUDCO Development Project: A ₹600 crore project from the Housing & Urban Development Corporation Limited (HUDCO) for developing a 10-acre institutional plot in Noida. NBCC will serve as the project management consultant.
- Odisha Hostel Upgradation: A ₹316 crore contract from the ST & SC Development, Minorities & Backward Classes Welfare Department in Odisha, focusing on upgrading primary school hostels under the State Sector Scheme.
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Recent Project Wins
NBCC has secured several other high-value contracts this month, including:
- Bureau of Indian Standards (BIS): A ₹500 crore project for constructing buildings across five locations.
- Mahatma Gandhi Kashi Vidyapith University: A ₹44 crore contract for a multipurpose examination hall and innovation center in Varanasi.
- Sampurnanand Sanskrit University: A ₹5 crore project for academic block renovations in Varanasi.
- Power Grid Corporation of India: A ₹186.46 crore contract to renovate its corporate office in Gurugram, Haryana.
Strong Growth Prospects
With these project wins, NBCC has solidified its order book and demonstrated its competitive edge in India’s infrastructure development space. The company’s ability to secure diverse and large-scale contracts reflects its growing reputation in the industry.
As the stock continues its upward trajectory, NBCC remains a key player poised to benefit from India’s robust urbanization and infrastructure initiatives.
As of wrting this article, NBCC shares were trading 3.32% up at Rs. 99 a piece by 1:22 PM IST
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