Stocks of the National Buildings Construction Corporation India Ltd. advanced the most in a week after securing a contract from the Ministry of Home Affairs.
The company received a work order for the construction of an 88.58-km border and road in Mizoram along the Indo-Bangladesh border at a cost of Rs 448.02 crore from the Department of Border Management, Ministry of Home Affairs.
As of 11:25 a.m., shares of NBCC rose 4.49% to Rs 37.25 apiece on Wednesday, compared to a 0.53% gain in the benchmark NSE Nifty 50. The stock advanced as much as 5.89% intraday, rising the most in a week since March 29, 2023.
The total traded volume so far in the day stood at 4.9 times its 30-day average. The relative strength index was 60.6, implying that the stock may be overbought.
Out of the four analysts tracking the company, one maintains a 'buy' rating, two recommend a 'hold,' and one suggests a 'sell' on the stock, according to Bloomberg data. The return potential, as calculated by the consensus of analyst estimates, stands at a downside of 7% over the next 12 months.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
