NBCC Share Price At Record High After Sales Worth Rs 1,468 Crore

Shares of NBCC Ltd. rose nearly 5% to life high on Monday, after the company successfully sold 446 residential units at Aspire Silicon City in Noida through an e-auction, generating Rs 1,468 crore in sales.

The company will also receive a marketing fee of 1% of the total sale value, according to an exchange filing on Friday.

In April, the company had sold around 560 residential units at Aspire Leisure Park, for a total sale value of Rs 1,153.13 crore in Greater Noida. In the same week, the public sector enterprise sold 1,185 residential units at Aspire Dream Valley, Phase-III, Greater Noida, through an e-auction for a sale value of Rs 1,504.7 crore.

Shares of NBCC rose as much as 4.53% to Rs 116.11 apiece, the highest level ever. They pared gains to trade 3.99% higher at Rs 115.58 apiece, as of 11:45 a.m. This compares to a 0.05% decline in the NSE Nifty 50.

The stock has risen 24.13% on a year-to-date basis, and 23% in the last 12 months. Total traded volume so far in the day stood at 2.4 times its 30-day average. The relative strength index was at 69.59.

Out of three analysts tracking the company, two maintain a 'buy' rating, and one suggests 'sell', according to Bloomberg data.