Shares of NCC India Ltd. traded at a five-year high on Tuesday after the company bagged multiple orders from the state and central governments.
The company won six orders worth a total of Rs 3,344 crore in April. Out of these, three orders are worth Rs 2,506 crore and pertain to the building division. It got two more orders worth Rs 538 crore for the electrical division and one order worth Rs 300 crore from the water division.
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These contracts will need to be executed within 15 to 27 months from the date of award, according to an exchange filing.
Shares of NCC India rose by 2.34% to close at Rs 122.6 apiece, compared to the three-month rise in the benchmark NSE Nifty 50 by 0.46% on Tuesday. The stock traded at Rs 123.2 apiece intraday, the most since June 2018. It rose as much as 2.84% intraday, the most since April 28. The total traded volume so far in the day stood at 1.6 times its 30-day average.
All 15 analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 2.8%.
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