NCC Secures Rs 792-Crore Worth Of Government Orders
Shares of NCC closed 2.29% lower at Rs 217.71 apiece on the National Stock Exchange before the announcement.
NCC Ltd. bagged two orders worth Rs 791.5 crore in July from state government agencies, according to an exchange filing on Thursday.
This includes an order worth Rs 461.4 crore for the buildings division and Rs 330.2 crore for the electrical division of the company.
The construction major received the contracts during the normal course of business and the promoters of the company do not hold any interest in the entities that have awarded the projects, it added.
On July 11, NCC received a letter of acceptance from the Mumbai Metropolitan Region Development Authority for a Rs 2,269-crore project pertaining to the development of Metro Line 6.
Shares of NCC closed 2.29% lower at Rs 217.71 apiece on the National Stock Exchange before the announcement.
Out of the 15 analysts tracking the company, 10 have a 'buy' rating on the stock, three maintain 'hold' and two gave 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 24.9%.
