NBCC gains after strong Q1 earnings

National Buildings Construction Corporation rose 3% to Rs 1,024.05 at 13:27 IST on BSE after consolidated net profit rose 31.50% to Rs 44.08 crore on 37.08% rise in net sales to Rs 1146.94 crore in Q1 June 2015 over Q1 June 2014.

The result was announced after market hours yesterday, 13 August 2015.

Meanwhile, the BSE Sensex was up 500.30 points, or 1.82%, to 28,049.83.

On BSE, so far 1.08 lakh shares were traded in the counter, compared with an average volume of 1.65 lakh shares in the past one quarter.

The stock hit a high of Rs 1,048.80 and a low of Rs 1,010 so far during the day. The stock hit a record week high of Rs 1,214.50 on 6 August 2015. The stock hit a 52-week low of Rs 414.85 on 14 August 2014.

Shares of National Buildings Construction Corporation (NBCC) also rose on bargain hunting after a recent sell off. The NBCC stock slumped 12.96% in the preceding three trading sessions to Rs 994.25 on 13 August 2015, from a recent high of Rs 1142.30 on 10 August 2015.

The stock had underperformed the market over the past one month till 13 August 2015, rising 1.32% compared with 1.47% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 29.82% as against Sensex's 1.10% rise.

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

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 June 2015).

Powered by Capital Market - Live News