NCC sizzles after multiple orders win

NCC rose 3.25% to Rs 100 at 11:44 IST on BSE after the company announced that it has received four new orders totaling to Rs 2060.96 crore in June 2018.

The announcement was made after market hours yesterday, 2 July 2018.

Meanwhile, the S&P BSE Sensex was up 127.60 points, or 0.36% to 35,392.01.

On the BSE, 9.81 lakh shares were traded in the counter so far, compared with average daily volumes of 6.52 lakh shares in the past two weeks. The stock had hit a high of Rs 101.35 and a low of Rs 98.35 so far during the day. The stock hit a 52-week high of Rs 141.85 on 10 January 2018. The stock hit a 52-week low of Rs 79.30 on 10 August 2017.

NCC announced that the company has received four new orders totaling to Rs 2060.96 crore (exclusive of GST) in June 2018. Out of this, three orders totaling to Rs 1997.51 crore pertain to buildings division and one order of Rs 63.45 crore pertain to water & environment division. All these orders are received from various central and state government agencies and do not include any internal orders.

The company has so far received new orders of Rs 3668.78 crore (exclusive of GST) up to June 2018, i.e. in the first three months of the current financial year.

Net profit of NCC rose 61.21% to Rs 102.71 crore on 11.94% rise in net sales to Rs 2394.79 crore in Q4 March 2018 over Q4 March 2017.

NCC is engaged in the construction/project activities in the infrastructure sector.

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