NCC Receives Orders Worth Rs 1,690 Crore In June

NCC Ltd. received orders worth Rs 1,690.51 crore in June, the company said on Monday in an exchange filing.

The orders received by the construction company are related to the building division, according to the exchange filing. The orders were received from state government agencies and private companies and do not include any internal order.

Additionally, the company said that these orders are to be completed between four months and 24 months. "These orders have been received in the normal course of business of the company," it added.

NCC in March had received two orders from Bharat Sanchar Nigam Ltd. worth Rs 10,805 crore. 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. The orders will be executed in three years and maintenance will be for 10 years, it said.

The company in the same month also 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.

It had also received an order worth Rs 1,480.30 crore from Bihar Medical Services & Infrastructure Corp. for the redevelopment of Darbhanga Medical College & Hospital at Laheriasarai, Darbhanga.

The shares of NCC closed 0.29% higher at Rs 230.46 per share. This compares with a 0.47% decline in the benchmark Nifty 50. It has fallen 27.17% in the last 12 months and 15.86% year-to-date.

Out of 14 analysts tracking the company, nine maintain a 'buy' rating, three recommend a 'hold,' and two suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 17.3%.