NBCC Bags Rs 297-Crore Redevelopment Project In Uttar Pradesh
The project has been awarded to the state-owned company by the Meerut Development Authority.
NBCC Ltd. announced on Monday that it has bagged a work order worth Rs 296.53 crore from the Meerut Development Authority for redevelopment projects in Uttar Pradesh's Meerut.
NBCC operates in the domains of project management consultancy and real estate development.
In May, the state-owned firm received an order to develop the interior works of office space at Nauroji Nagar for Rs 161.55 crore.
Shares of NBCC on Monday closed 2.42% higher at Rs 119.91 apiece on the National Stock Exchange, compared to a 0.56% fall in the benchmark Nifty. The stock has risen 10.35% in the last 12 months and 26.96% on a year-to-date basis.
Out of the three analysts tracking the company, two have a 'buy' rating on the stock and one recommend 'sell', according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside of 19.3%.
