Shares of NCC Ltd. rose over 2% on Monday after the construction firm received orders worth Rs 355 crore in June relating to the building division.
The company informed the exchanges that they received these orders from a private limited company and that it does not include any internal orders. It did not reveal details about the project timeline or specific deliverables.
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NCC's stock rose as much as 2.28% during the day to Rs 323.65 apiece on the NSE. It was trading 1.37% higher at Rs 320.75 per share, compared to a 0.52% advance in the benchmark Nifty as of 2:32 p.m.
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The share price has risen 163.86% in the last 12 months and 92.92% on a year-to-date basis. The relative strength index was at 56.84.
Thirteen out of the 16 analysts tracking the company have a 'buy' rating on the stock, two recommend 'hold' and one suggests 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 10%.
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