 "NBCC gains on signing MoU with Delhi Development Authority")
Shares of National Buildings Construction Corporation (NBCC) were trading higher by 4% at Rs 888 on BSE after the company said it has signed Memorandum of Understanding (MoU) with the Delhi Development Authority (DDA) for development of ‘East Delhi Hub’ project at Karkardooma.
The East Delhi Hub, mega project of Delhi will be developed on 30 hectare land and it would be the first project based on Transit Oriented Development (TOD) norms and Smart City features. The project will be self-sustainable, comprising of tallest tower of Delhi including residential, commercial, recreational & social infrastructures etc, NBCC said in a statement.
NBCC will be paid PMC @ 10% and marketing fee @ 1%. After getting statuary approvals, the project shall be completed in a period of approx. three years, it added.
The stock opened at Rs 872 and touched high of Rs 908 on BSE. Till 1053 hours, a combined 683,896 shares changed hands on the counter on BSE and NSE.
The East Delhi Hub, mega project of Delhi will be developed on 30 hectare land and it would be the first project based on Transit Oriented Development (TOD) norms and Smart City features. The project will be self-sustainable, comprising of tallest tower of Delhi including residential, commercial, recreational & social infrastructures etc, NBCC said in a statement.
NBCC will be paid PMC @ 10% and marketing fee @ 1%. After getting statuary approvals, the project shall be completed in a period of approx. three years, it added.
The stock opened at Rs 872 and touched high of Rs 908 on BSE. Till 1053 hours, a combined 683,896 shares changed hands on the counter on BSE and NSE.