NBCC Order Book Hits Rs 1 Lakh Crore, Share Price Up
The milestone comes after NBCC secured multiple orders worth Rs 405 crore.
NBCC India Ltd. on Wednesday announced it's order book has hit the Rs 1 lakh crore-mark on consolidated basis. This comes after it secured multiple orders worth Rs 405 crore.
The contract includes planning, designing and execution of construction of ‘Centre for Advance Studies’ for University of Delhi for Rs 151.93 crore, and development work of Fakir Mohan University, (Vyasa Vihar), Balasore for Rs 118.64 crore.
Work of Maharaja Sriram Chandra Bhanja Deo University in Mayurbhanj for Rs 84.75 crore, construction of office building at Uttar Pradesh Rajya Nirman Evam Sharam Vikash Sahakari Sangh in Lucknow for Rs 37.9 crore and project management consultancy services for upgradation of WRPC staff quarter in Mumbai for Rs 11.86 crore are also part of it.
Founded in 1960, NBCC is a government-owned public sector enterprise and a prominent player in the construction and real estate sector in India. The company specialises in project management consultancy, engineering procurement and construction contracts, and real estate development.
NBCC has a significant portfolio of residential, commercial, and institutional projects, and it plays a crucial role in executing government projects in sectors such as education, healthcare, and housing.
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NBCC Share Price Movement
NBCC share price was trading 2.6% higher at Rs 86.3 per share by 12:13 p.m. The benchmark NSE Nifty 50 was up 0.2%. The stock has risen 41% in the last 12 months.
Total traded volume so far in the day stood at 1.2 times its 30-day average. The relative strength index was at 42.
Two analysts tracking NBCC have a 'buy' rating on the stock, and two suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price target of Rs 133 implies a potential upside of 54%.
