NBCC gains after bagging new order

NBCC rose 1.48% to Rs 1,011.65 at 9:28 IST on BSE after the company said it bagged a Rs 328.08 crore order from Nabinagar Power Generating Company.

The announcement was made after market hours yesterday, 28 December 2015.

Meanwhile, the BSE Sensex was up 95.61 points, or 0.37%, to 26,129.74.

On BSE, so far 7,032 shares were traded in the counter, compared with an average volume of 49,906 shares in the past one quarter.

The stock hit a high of Rs 1,019 and a low of Rs 1,010 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 28 December 2015, rising 0.25% compared with 0.36% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 5.63% as against Sensex's 1.63% rise.

The large-cap company has an equity capital of Rs 120 crore. Face value per share is Rs 10.

NBCC announced that it bagged an order worth Rs 328.08 crore from Nabinagar Power Generating Company for a township project near its super thermal power project. Nabinagar Power Generating Company is a joint venture between NTPC and Bihar State Power Generation Co.

Nabinagar super thermal power project is a coal-based thermal power plant located at Majhiyan and Ankorha villages in Nabinagar taluk at Aurangabad district in Bihar.

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).

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