NBCC Shares Trade Lower Despite Rs 658-Crore Order Win

Shares of NBCC (India) Ltd. were trading lower, despite winning two orders worth Rs 658.43 crore.

The first order of Rs 438.98 crore was from Uttarakhand Investment and Infrastructure Development Board, the company said in its exchange filing on Tuesday. The second order worth Rs 219.45 crore was from the Centre for development of Telematics.

The order from the Uttarakhand board includes the Rodi Belwala Area Revitalisation, Sati Kund and surrounding area, Har ki Pauri and Subhash Ghar revitalisation and redevelopment of parking and commercial area at upper road, opposite railway station.

The second order includes project management consultancy services for planning, supervision, construction and development of various building. The construction of building will include data centre, housing and hostels, technical block and residential buildings at the C-Dot Campus, Mehrauli, New Delhi.

The company earlier this month announced that it has sold 1,046 residential units worth Rs 2,353 crore at Aspire Centurian Park in Uttar Pradesh's Greater Noida (West), through an e-auction.

NBCC will get marketing fee at 1% of sale value.

Shares of NBCC Ltd. fell as much as 3.91% to Rs 82.02 apiece, the lowest level since March 20. It pared losses to trade 2.87% lower at Rs 82.91 apiece, as of 12:28 p.m. This compares to a 0.06% decline in the NSE Nifty 50.

The stock has risen 8.33% in the last 12 months and fallen 10.81% year-to-date. Total traded volume so far in the day stood at 1.3 times its 30-day average. The relative strength index was at 52.

Out of three analysts tracking the company, two maintain a 'buy' rating and one suggests 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 43.1%.