NBCC gets stronger after successful e-auction of commercial space

NBCC (India) rose 1.3% to Rs 195.50 at 13:00 IST on BSE after the company announced successful e-auction of upcoming commercial space at Nauroji Nagar, New Delhi.

The announcement was made after market hours yesterday, 1 June 2017.

Meanwhile, the S&P BSE Sensex was up 132.79 points, or 0.43% to 31,270.38.

On the BSE, 69,525 shares were traded in the counter so far, compared with average daily volumes of 2.17 lakh shares in the past one quarter. The stock had hit a high of Rs 198.25 and a low of Rs 194.90 so far during the day. The stock had hit a record high of Rs 205.75 on 28 April 2017. The stock hit a 52-week low of Rs 117.67 on 24 June 2016.

The stock fell 3.4% over the past one month till 1 June 2017, underperforming the Sensex's 4.08% rise. The scrip had, however, outperformed the market in past one quarter, rising 16.62% as against Sensex's 7.43% rise. The scrip had outperformed the market in past one year, gaining 49% as against Sensex's 16.56% rise.

The large-cap company has equity capital of Rs 180 crore. Face value per share is Rs 2.

NBCC (India) said that it has successfully launched and e-auctioned upcoming commercial and office space in one tower having ten floors of 2.83 lakh square feet of super built up area at Nauroji Nagar, New Delhi which would inflow around Rs 1100 crore in stages as per agreement.

NBCC had been engaged as implementing and marketing agency for re-development of three general pool residential accommodation (GRPA) colonies, Nauroji Nagar, Netaji Nagar and Sarojini Nagar on self sustainable finance model.

NBCC (India) is a blue-chip Government of India (GoI) Navratna Enterprise under the Ministry of Urban Development, in construction sector. The GoI held 75% stake in the firm (as per shareholding pattern as on 31 March 2017).

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