NBCC (India) drops after large bulk deal

NBCC (India) lost 1.68% to Rs 255 at 13:25 IST on BSE after a bulk deal of 73.47 lakh shares was executed on the scrip at Rs 262.95 per share at 09:18 IST on BSE.

Meanwhile, the S&P BSE Sensex was up 115.99 points or 0.35% at 33,366.29.

Bulk deal boosted volume on the scrip. On the BSE, 76.21 lakh shares were traded on the counter so far as against the average daily volumes of 2.78 lakh shares in the past one quarter. The stock had hit a high of Rs 264.65 and a low of Rs 254.25 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 143.33 on 26 December 2016.

The stock had underperformed the market over the past one month till 8 December 2017, falling 6.25% compared with the Sensex's 0.09% rise. The stock, however, outperformed the market over the past one quarter, rising 24.54% as against the Sensex's 4.93% rise. The scrip also outperformed the market over the past one year, surging 66.89% as against the Sensex's 24.56% rise.

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

President of India, acting through the Ministry of Housing and Urban Affairs, Government of India (GOI), has offered upto 67.50 lakh equity shares to eligible employees of NBCC (India) at a discounted price of Rs 156.12 per share (i.e. after discount to the cut-off price discovered in the OFS and bonus issue adjustments). Action has been initiated by the company for sale of equity shares to the eligible employees by the GOI. The offer for sale shall remain open from 28 December 2017 to 5 January 2018. The announcement was made after market hours on Friday, 8 December 2017.

NBCC (India)'s consolidated net profit surged 31.33% to Rs 81.24 crore on 16.22% fall in total income to Rs 1363.58 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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