NBCC gains after winning order

National Buildings Construction Corporation rose 3.82% to Rs 660 at 10:08 IST on BSE after the company said it received constructions order worth of Rs 338 crore from IIT Kanpur.

The announcement was made after market hours on Tuesday, 7 October 2014.

Meanwhile, the BSE Sensex was down 10.04 points, or 0.04%, to 26,261.93.

On BSE, so far 1.45 lakh shares were traded in the counter, compared with an average volume of 3.04 lakh shares in the past one quarter.

The stock hit a high of Rs 666.60 and a low of Rs 640.20 so far during the day. The stock hit a record high of Rs 767.50 on 23 September 2014. The stock hit a 52-week low of Rs 108.60 on 17 October 2013.

The stock had outperformed the market over the past one month till 7 October 2014, rising 30.19% compared with 2.79% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 37.34% as against Sensex's 0.66% rise.

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

IIT Kanpur has awarded to National Buildings Construction Corporation (NBCC), Project Management Consultancy work for Major Construction works such as Engineering Core Lab, Research Complex (Phase-I) and retrofitting of Aerospace Engineering block multistoried building for Rs 337.97 crore, the company said in a statement.

NBCC's consolidated net profit declined 11.6% to Rs 33.52 crore on 12.1% growth in net sales to Rs 836.69 crore in Q1 June 2014 over Q1 June 2013.

NBCC provides civil engineering construction services in wide gamut of projects of varied nature, complexities & at socio-political geographical locations, both at home & overseas. NBCC has been operating in infrastructure segment as well, wherein it has been executing projects such as chimneys, cooling towers, and various types of power plant works.

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