NCC bags five new orders in June

The construction firm on Wednesday (8 July) said it received five new orders totaling to Rs 1396 crore in June 2020.

All five orders pertain to water division. These orders were received from various state government agencies and do not include any internal orders, NCC said.

Shares of NCC skid 1.36% at Rs 32.70 on BSE. The stock traded in the range of Rs 32.35 to Rs 34.05 so far.

On the technical front, the stock's RSI (relative strength index) stood at 65.224. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading in between its 50-day moving average (DMA) placed at Rs 27.06, with will act as a support in the near term and its 200-day moving average (DMA) placed at Rs 41.89, would act as a resistance in the upcoming trade.

NCC's consolidated net profit dropped 36.7% to Rs 110.37 crore on a 35.6% decline in net sales to Rs 2,181.96 crore in Q4 March 2020 over Q4 March 2019.

NCC is engaged in the construction/project activities in the infrastructure sector. The firm is involved in the construction of industrial and commercial buildings, roads, bridges and flyovers, water supply and environment projects, housing, power transmission lines, irrigation and hydrothermal power projects and real estate development.

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