NCC hits 52-week high as board to consider rights issue

NCC rose 1.1% to Rs 36.60 at 14:42 IST on BSE after the company said its board of directors will meet on 9 April 2014, to consider the proposal for raising funds by rights issue of equity shares or by any other permissible means.

The announcement was made during trading hours today, 3 April 2014.

Meanwhile, the S&P BSE Sensex was down 178.63 points or 0.79% at 22,372.86.

On BSE, so far 5.73 lakh shares were traded in the counter as against average daily volume of 3.09 lakh shares in the past one quarter.

The stock was volatile. The stock surged as much as 4.55% at the day's high of Rs 37.85 so far during the day, which is a 52-week high for the counter. The stock lost as much as 2.34% at the day's low of Rs 35.35 so far during the day. The stock had hit a 52-week low of Rs 16.55 on 4 September 2013.

The stock had outperformed the market over the past one month till 2 April 2014, surging 40.31% compared with the Sensex's 6.78% rise. The scrip had also outperformed the market in past one quarter, jumping 14.74% as against Sensex's 7.96% rise.

The small-cap company has equity capital of Rs 51.31 crore. Face value per share is Rs 2.

NCC's consolidated net profit declined 61.6% to Rs 4.76 crore on 23.5% growth in net sales to Rs 1879.03 crore in Q3 December 2013 over Q3 December 2012.

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.

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