NBCC Shares Rise After Selling Residential Units Worth Rs 2,353 Crore

NBCC (India) Ltd.'s share price gained on Wednesday after the company announced that it has sold residential units worth Rs 2,353 crore in Uttar Pradesh via e-auction.

The company has successfully sold 1,046 residential units at Aspire Centurian Park in Uttar Pradesh's Greater Noida (West), through an e-auction, according to an exchange filing.

NBCC will get marketing fee at 1% of sale value, as per the filing.

Earlier on Feb.14, NBCC announced that the company had received two significant work orders totalling Rs 851.69 crore.

NBCC stock rose as much as 4.29% during the day to Rs 83.15 apiece on the NSE. It was trading 3.51% higher at Rs 82.53 apiece, compared to a 0.33% advance in the benchmark Nifty 50 as of 1:46 p.m.

It has risen 11.84% in the last 12 months. Total traded volume so far in the day stood at 10.23 times its 30-day average. Relative strength index was at 35.23.

Two out of four analysts tracking the company have a 'buy' rating on the stock and two suggest a 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 44.8%.