NBCC gains after winning govt contract under National Mission for Clean Ganga

NBCC rose 2.24% to Rs 977.90 at 10:00 IST on BSE after the government has allocated work to the company on condition assessment & feasibility study and entry level activities under Namami Gange Programme.

The announcement was made after market hours yesterday, 14 December 2015.

Meanwhile, the BSE Sensex was down 48.58 points, or 0.19%, to 25,101.77.

On BSE, so far 13,685 shares were traded in the counter, compared with an average volume of 52,663 shares in the past one quarter.

The stock hit a high of Rs 984 and a low of Rs 970 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 14 December 2015, rising 7.05% compared with 1.8% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 1.54% as against Sensex's 2.73% decline.

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

National Buildings Construction Corporation (NBCC) said that the Ministry of Water Resources, River Development & Ganga Rejuvenation, Government of India has awarded the work to the company to carry out work on condition assessment & feasibility study and entry level activities under National Mission for Clean Ganga (NMCG) for all towns and cities of Bihar on the bank of river Ganga.

On a consolidated basis, net profit of NBCC rose 12.6% to Rs 68.29 crore on 23.6% rise 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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