NBCC gains after bagging new order

NBCC rose 3.23% to Rs 961.05 at 9:33 IST on BSE after the company said it bagged an order worth Rs 2149 crore for re-development of Pragati Maidan at New Delhi.

The announcement was made during trading hours today, 27 January 2016.

Meanwhile, the BSE Sensex was up 12.39 points, or 0.05%, to 24,498.34.

On BSE, so far 8,205 shares were traded in the counter, compared with an average volume of 44,364 shares in the past one quarter. The stock hit a high of Rs 968.55 and a low of Rs 953.20 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 underperformed the market over the past one month till 25 January 2016, sliding 6.04% compared with 5.24% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 4.28% as against Sensex's 10.87% fall.

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

NBCC said that India Trade Promotion Organization (ITPO), Department of Commerce, Government of India, awarded the work of re-development of Pragati Maidan, New Delhi involving construction of Integrated Exhibition cum Convention Centre (IECC) to the company for Rs 2149 crore.

The project entails the total development of 3.26 lakh square meters (sqm) of built up area including of 1.19 lakh sqm of exhibition space and convention centre facility of 7,000 pax seating facility in single format (with a plenary hall of at least 3,000 pax capacity, functional hail of 4,000 pax) and in addition various appurtenant facilities like meeting halls, lounges, services and parking space for about 4,800 passenger car units (PCU) in phase-I, the company said in a statement.

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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