NBCC jumps over 9% in two sessions

National Buildings Construction Corporation rose 3.46% to Rs 908 at 13:36 IST on BSE, extending Thursday's 5.47% rise triggered by the company signing a pact with Air India to develop land parcels at various locations on joint venture basis.

The announcement was made during trading hours on Thursday, 4 December 2014. Shares of National Buildings Construction Corporation (NBCC) jumped 5.47% to Rs 877.60 on that day. The stock has risen 9.12% in two sessions from Rs 832.10 on Wednesday, 3 December 2014.

Meanwhile, the BSE Sensex was down 31.53 points, or 0.11%, to 28,531.29.

On BSE, so far 2.95 lakh shares were traded in the counter, compared with an average volume of 3.30 lakh shares in the past one quarter.

The stock hit a high of Rs 922.80 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 885.10 so far during the day. The stock hit a 52-week low of Rs 134 on 17 December 2013.

The stock had underperformed the market over the past one month till 4 December 2014, rising 0.17% compared with 2.52% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 88.04% as against Sensex's 5.45% rise.

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

National Buildings Construction Corporation (NBCC) announced that a memorandum of understanding (MoU) has been signed between the company and Air India for development of land parcels of Air India at various locations on a joint venture basis. No other details were disclosed by the company.

In a separate announcement on Thursday, NBCC elaborated that at present a general MoU has been signed between NBCC and Air India for undertaking development of various land parcels lying idle with Air India. Project specific agreements with detailed modalities will be signed separately.

NBCC announced on Tuesday, 2 December 2014, that it secured Project Management Consultancy (PMC) work for construction/improvement/maintenance of roads at Miao-Vijaynagar (Arunachal Pradesh) costing Rs 1850 crore.

On a consolidated basis, net profit of NBCC fell 0.9% to Rs 60.67 crore on 4.2% increase in net sales to Rs 904.29 crore in Q2 September 2014 over Q2 September 2013.

NBCC provides civil engineering construction services. The company's present arrays of operations are categorized into three main segments -- project management consultancy (PMC), real estate development and engineering, procurement and construction (EPC) contracting.

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