NBCC Share Price Gains After Company Wins Multiple Orders Worth Rs 1,726 Crore

The share price of NBCC (India) Ltd. surged over 6% on Monday after the company bagged multiple redevelopment work orders in Goa worth an aggregate of Rs 1,726 crore.

NBCC share price rose as much as 6.36% during the day to Rs 93.5 apiece on the NSE. It was trading 4.3% higher at Rs 91.6 apiece, compared to a 0.99% advance in the benchmark Nifty 50 as of 1:01 p.m.

The stock has risen 104% during the last 12 months and advanced 68% so far this year. The total traded volume so far in the day stood at 1.8 times its 30-day average. The relative strength index was at 26, implying it is oversold.

Out of four analysts tracking the company, one maintains a 'buy' rating, one recommends a 'hold,' and two suggest a 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 44%.