NBCC bucks trend after winning new orders

NBCC rose 0.93% to Rs 1,016.50 at 9:23 IST on BSE after the company said it bagged contracts worth approximately Rs 8523 crore in December 2015.

The announcement was made after market hours yesterday, 6 January 2016.

Meanwhile, the BSE Sensex was down 309.43 points, or 1.22%, to 25,096.90.

On BSE, so far 15,000 shares were traded in the counter, compared with an average volume of 46,594 shares in the past one quarter. The stock hit a high of Rs 1,027 and a low of Rs 1,006.55 so far during the day. The stock hit a record high of Rs 1,214.50 on 6 August 2015. The stock hit a 52-week low of Rs 682.60 on 9 February 2015. The stock had outperformed the market over the past one month till 6 January 2016, rising 3.97% compared with 0.90% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 2.39% as against Sensex's 5.67% fall.

The large-cap state-run construction firm has an equity capital of Rs 120 crore. Face value per share is Rs 10.

Of the total business, the company said works worth Rs 8195 crore were related to project management consultancy (PMC) and projects worth Rs 328 crore were related to the engineering, procurement and construction (EPC) business.

In a separate announcement after market hours yesterday, NBCC said it bagged a contract worth Rs 294.78 crore from IIT Mandi for construction of academic building, guest house, gymnasium, hospital and auditorium in the IIT Mandi campus.

On a consolidated basis, net profit of NBCC rose 12.6% to Rs 68.29 crore on 23.6% growth in net sales to Rs 1117.43 crore in Q2 September 2015 over Q2 September 2014.

NBCC is a blue-chip Government of India (GoI) Navratna Enterprise under the Ministry of Urban Development, in construction sector. The GoI held 90% stake in the firm (as per shareholding pattern as on 30 September 2015).

Powered by Capital Market - Live News