NCC Ltd. secured two advance work orders worth Rs 10,805 crore from Bharat Sanchar Nigam Ltd. on Tuesday for middle-mile network of BharatNet in Uttarakhand and Madhya Pradesh.
The orders are for design, supply, construction, installation, upgradation, operation and maintenance of the network, according to an exchange filing.
The first order is worth Rs 2,647.1 crore for the Uttarakhand Telecom Circle, while the second order is worth Rs 8,157.4 crore in Madhya Pradesh DNH & DD Telecom Circles, it said.
The orders will be executed in three years and maintenance will be for 10 years, it said.
Earlier on March 20, NCC secured a contract worth Rs 2,129.6 crore from Andhra Pradesh Capital Region Development Authority for construction activities in the Amaravati Capital City Project.
Shares of NCC closed 2.13% lower at Rs 204.73 apiece on the National Stock Exchange, compared to a 0.04% advance in the benchmark Nifty. The stock has declined 16.03% in the last 12 months and 25.5% on a year-to-date basis.
Ten out of the 15 analysts tracking the company have a 'buy' rating on the stock, two recommend 'hold' and three suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 31.2%.
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