Housing and Urban Development Corp.'s share price rose to its highest level in nearly two months as the company signed a Memorandum of Understanding with NBCC (India) Ltd. to develop a land parcel in Noida. HUDCO plans to develop the 10-acre land parcel into an institutional complex spanning 8.71 lakh square feet.
The complex will have world–class amenities with a mix of office space, studio apartments, conference space and retail and common facilities. NBCC will execute the project with the scope of concept–to–commissioning, the company said in an exchange filing.
HUDCO Share Price Today
HUDCO's share price rose 9.15% to Rs 240.58, the highest level since Oct.1, before paring gains to trade 5.23% higher at Rs 231.94 apiece as of 11:46 a.m., as compared to 0.86% decline in the NSE Nifty 50.
The stock has risen 170.79% in 12 months, and 84.35% on year-to-date basis. Total traded volume so far in the day stood at 84.18 times its 30-day average. The relative strength index was at 60.77.
Two analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 40.7%.
NBCC Share Price Today
NBCC (India) share price rose 5.04% to Rs 100.50 apiece, the highest level since Nov. 7. It was trading 3.79% higher at Rs 99.31 apiece as of 11:51 a.m., as compared to 0.86% decline in the NSE Nifty 50.
The stock has advanced 119.07% in 12 months, and 82.59% on year-to-date basis. Total traded volume so far in the day stood at 2.7 times its 30-day average. The relative strength index was at 54.15.
Out of four analysts tracking the company, two maintain a 'buy' rating, and two suggest 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 34.1%.
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