NBCC Shares Decline Ahead Of Q3 Earnings
NBCC also announced two significant orders on Tuesday.
NBCC Ltd. shares fell over 5% on Tuesday, ahead of the company’s third-quarter earnings announcement.
NBCC also announced two significant orders on Tuesday, the first order involves the planning, designing, and development of infrastructure facilities and other related works at the Central University of Punjab in Bathinda, valued at Rs 170.33 crore.
The second order, worth Rs 102 crore, includes the construction of a regional office building in Guwahati, Assam, a central covered courtyard at various Jawahar Navodaya Vidyalayas (JNVs) in Assam, and multipurpose halls at JNVs in Meghalaya and Nagaland. The total value of these orders amounts to Rs 272.33 crore.
In addition to these orders, NBCC successfully sold 1,233 residential units of ASPIRE Golf Homes Amrapali Projects in Greater Noida, Uttar Pradesh, through an e-auction. The total sale value of these units is approximately Rs 3,217 crore. However, these positive developments did little to boost the stock price, as investors remained focused on the upcoming earnings report.
NBCC Share Price
Shares of NBCC Ltd. fell as much as 5.41% to Rs 85.33 apiece. They pared some losses to trade 5.33% lower at Rs 85.40 apiece, as of 2:35 p.m. This compares to a 1.56% decline in the NSE Nifty 50.
The stock has fallen 3.79% in the last 12 months. Total traded volume so far in the day stood at 0.68 times its 30-day average. The relative strength index was at 41.
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 55%.
