NBCC (India) gains on good order book of subsidiary

NBCC (India) rose 1.55% to Rs 183.80 at 9:24 IST on BSE after the company said its subsidiary Hindustan Steelworks currently has an order book of Rs 8000 crore.

The announcement was made after market hours yesterday, 11 April 2017.

Meanwhile, the S&P BSE Sensex was up 6.10 points, or 0.02% to 29,794.45.

On the BSE, 16,000 shares were traded in the counter so far, compared with average daily volumes of 2.53 lakh shares in the past one quarter. The stock had hit a high of Rs 184 and a low of Rs 182.05 so far during the day.

The stock hit a record high of Rs 199.57 on 5 October 2016. The stock hit a 52-week low of Rs 117.73 on 24 June 2016.

The stock had outperformed the market over the past one month till 11 April 2017, rising 6.22% compared with 2.91% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 0.53% as against Sensex's 9.76% rise.

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

NBCC (India) announced that its subsidiary, Hindustan Steelworks Construction (HSCL), as on 1 April 2017, had an order book of Rs 8000 crore (approximately). For the financial year 2015-2016, the company's total revenue and net profit was Rs 1416 crore (approximately) and Rs 30.19 crore respectively. Presently, HSCL is a debt free company.

On a consolidated basis, NBCC (India)'s net profit rose 15.9% to Rs 64.42 crore on 4% increase in net sales to Rs 1413.77 crore in Q3 December 2016 over Q3 December 2015.

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 22 February 2017).

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