NCC drops after stake-sale from a foreign fund

NCC lost 3.04% to Rs 67 at 10:50 IST on BSE after Mauritius-based investment holding firm Warhol sold a total of about 79.86 lakh shares of the company in bulk deals on BSE and NSE at Rs 69.07 per share on Thursday, 11 September 2014.

Meanwhile, the S&P BSE Sensex was down 23.14 points or 0.09% at 26,972.73.

On BSE, so far 1.82 lakh shares were traded in the counter as against average daily volume of 8.80 lakh shares in the past two weeks.

The stock hit a high of Rs 68.75 and a low of Rs 67 so far during the day. The stock had hit a 52-week low of Rs 17.35 on 24 September 2013. The stock had hit a 52-week high of Rs 88.90 on 20 May 2014.

Warhol sold 48 lakh shares of NCC at Rs 69.07 a share in a bulk deal on NSE on Thursday, 11 September 2014. Also, Warhol sold another 31.86 lakh shares at Rs 69.07 per share on BSE on Thursday, 11 September 2014.

NCC reported a consolidated net loss of Rs 20.52 crore in Q1 June 2014 as against net profit of Rs 5.81 crore in Q1 June 2013. Net sales rose 11.8% to Rs 1808.89 crore in Q1 June 2014 over Q1 June 2013.

NCC's range of business verticals comprising of buildings & housing, transportation, water & environment, irrigation, power, electricals, metals, oil & gas and international business reflect an expertise positioned to capture every infrastructure upturn.

Powered by Capital Market - Live News