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NBCC (India) gains after good business in March 2017

Capital Market 

NBCC (India) rose 1.41% to Rs 183.40 at 9:44 on after the company said it has secured the total business of Rs 1877 crore in March 2017.

The announcement was made after market hours yesterday, 18 April 2017.

Meanwhile, the S&P Sensex was up 11.06 points, or 0.04% to 29,330.16.

On the BSE, 40,000 shares were traded in the counter so far, compared with average daily volumes of 2.46 lakh shares in the past one quarter. The stock had hit a high of Rs 184.90 and a low of Rs 182.75 so far during the day.

The stock hit a record high of Rs 199.57 on 5 October 2016. The stock hit a 52-week low of Rs 117.73 on 24 June 2016.

The stock had outperformed the market over the past one month till 18 April 2017, rising 2.81% compared with 0.68% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 1.83% as against Sensex's 7.56% rise.

The large-cap company has equity capital of Rs 180 crore. Face value per share is Rs 2.

In a separate announcement after market hours yesterday, 18 April 2017, the company announced that it signed memorandum of business exploration on 17 April 2017 with BOLIX SA, Poland for joint cooperation to promote external thermal insulation and composite system (ETICS) for construction of energy efficient and environment friendly green buildings.

On a consolidated basis, NBCC (India)'s net profit rose 15.9% to Rs 64.42 crore on 4% increase in net sales to Rs 1413.77 crore in Q3 December 2016 over Q3 December 2015.

NBCC (India) is a blue-chip Government of (GoI) Navratna Enterprise under the Ministry of Urban Development, in construction sector. The GoI held 75% stake in the firm (as per shareholding pattern as on 22 February 2017).

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, April 19 2017. 09:48 IST
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