NBCC spurts to record high

National Buildings Construction Company spurted 10.63% to Rs 670 at 12:16 IST on BSE after the company's CMD Anoop Kumar Mittal was quoted as saying that there are projects in pipeline valuing more than Rs 30000 crore to Rs 40000 crore.

Meanwhile, the S&P BSE Sensex was up 356.01 points or 1.34% at 26,987.30.

On BSE, so far 10.71 lakh shares were traded in the counter as against average daily volume of 2.33 lakh shares in the past one quarter.

The stock hit a high of Rs 689.60 so far during the day, which is a record high for the counter. The stock hit a low of Rs 610 so far during the day. The stock had hit a 52-week low of Rs 108.30 on 7 October 2013.

The stock had outperformed the market over the past one month till 17 September 2014, surging 35.74% compared with the Sensex's 2.02% rise. The stock had also outperformed the market in past one quarter, advancing 92.65% as against Sensex's 4.35% rise.

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

National Buildings Construction Company (NBCC)'s Chairman & Managing Director (CMD), Anoop Kumar Mittal was quoted as saying that there are projects in pipeline valuing more than Rs 30000 crore to Rs 40000 crore. The company's current order book stands at Rs 17000 crore to Rs 18000 crore.

NBCC's consolidated net profit declined 11.6% to Rs 33.52 crore on 12.1% growth in net sales to Rs 836.69 crore in Q1 June 2014 over Q1 June 2013.

NBCC provides civil engineering construction services in wide gamut of projects of varied nature, complexities & at socio-political geographical locations, both at home & overseas. NBCC has been operating in infrastructure segment as well, wherein it has been executing projects such as chimneys, cooling towers, and various types of power plant works.

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