NBCC gains after providing business update

National Buildings Construction Corporation rose 1.6% to Rs 955 at 9:47 IST on BSE after the company said that it has secured a total business of about Rs 226.96 crore in March 2016.

The announcement was made after market hours yesterday, 7 April 2016.

Meanwhile, the BSE Sensex was down 43.22 points, or 0.18%, to 24,642.20

On BSE, so far 14,691 shares were traded in the counter, compared with an average volume of 39,826 shares in the past one quarter. The stock hit a high of Rs 963.95 and a low of Rs 946.55 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 702 on 28 April 2015.

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

National Buildings Construction Corporation (NBCC) said that the company has secured a total business of about Rs 226.96 crore in March 2016 under the project management consultancy (PMC) segment and the total work secured during the financial year ended 31 March 2016 amounted to about Rs 17516.53 crore.

On a consolidated basis, net profit of NBCC rose 13.5% to Rs 57.28 crore on 28.8% rise in net sales to Rs 1421.40 crore in Q3 December 2015 over Q3 December 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 31 December 2015).

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