NBCC (India) advances after large order win

NBCC (India) rose 1.76% to Rs 255 at 09:26 IST on BSE after the company received a contract from Ecotourism Development Corporation of Uttarakhand, Dehradun amounting about Rs 2000 crore.

The announcement was made on Saturday, 6 January 2018.

Meanwhile, the S&P BSE Sensex was up 193.42 points or 0.57% at 34,347.27.

On the BSE, 72,000 shares were traded on the counter so far as against the average daily volumes of 3.99 lakh shares in the past one quarter. The stock had hit a high of Rs 257.45 and a low of Rs 254.40 so far during the day. The stock had hit a record high of Rs 291.75 on 8 November 2017 and a 52-week low of Rs 160.40 on 5 January 2017.

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

NBCC (India) said that the company has received the contract from Ecotourism Development Corporation of Uttarakhand, Dehradun for Construction of Kotdwar-Ramnagar Kandi Road under Green Infrastructure/Green Road Project amounting Rs 2000 crore (approx.) as project management consultant.

NBCC (India)'s consolidated net profit surged 31.3% to Rs 81.24 crore on 12.1% fall in net sales to Rs 1319.25 crore in Q2 September 2017 over Q2 September 2016.

NBCC (India), a blue-chip Government of India (GoI) Navratna enterprise under the Ministry of Urban Development, is present in three segments of operations including project management consultancy (PMC), real estate development and EPC contracting. The GoI held 75% stake in the firm (as per shareholding pattern as on 30 September 2017).

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