Here's why NBCC (India) share is buzzing in trade on Oct 23; Check details

NBCC (India) share price: Shares of construction major NBCC (India) zoomed as much as 2.99 per cent to hit an intraday high of Rs 99.60 per share.

However, NBCC (India) shares were off highs and slipped into the red. At 9:47 AM, NBCC (India) shares were trading 3.72 per cent lower at Rs 93.10 per share. In comparison, BSE Sensex was down 0.12 per cent to 80,121.12 levels.

The rise in the share price came after the State-owned company announced that its arm, HSCC (India) Limited, has secured orders worth Rs 1,322.48 crore from Employees State Insurance Corporation, Govt. of India. 

HSCC (India) is a wholly owned subsidiary of NBCC (India). 

Under the terms of the order, HSCC (India) will be responsible for the construction of additional 500 Beds (enhancement of bed strength from 650 to 1150 beds) at ESIC medical college and Hospital at Faridabad on deposit mode basis and the construction of 500 Bedded ESIC Hospital at Manesar (Gurugram), Haryana on deposit mode basis.

Under the terms of order, HSCC (India) will be responsible for the construction of new government medical college of 100 student capacity & 430 bedded hospital at Buldhana, NBCC said in a statement. 

In a separate filing, the company said that it has received multiple orders worth Rs 41 crore from ST & SC Development, Minorities & Backward Classes Welfare Department, Govt. Of Odisha.

According to the order details, NBCC (India) will be responsible for the upgradation from Ashram School to High School at Dhansuli Ashram School, Jaipatna, Kalahandi; upgradation from High School to Higher Secondary School (Art Stream) at Govt (SSD) High School, Dhamanpur, Kalahandi; and construction of Hostel at Bijay Kumar Academy, Govt. High School, Soharia, Bograi, Balasore.

NBCC (India) Q1FY25 results

Financially, state-owned NBCC posted a 38 per cent increase in its consolidated net profit to Rs 107.2 crore for the first quarter of this fiscal year 2025 (Q1FY25), as against a profit of Rs 77.4 crore in the year-ago period (Q1FY24). The company's total income jumped to Rs 2,197.8 crore in the April-June quarter of this fiscal from Rs 1,974 crore in the corresponding period of the previous year.

NBCC, a construction company, provides project management consultancy, real estate, engineering procurement, construction, civil engineering, and redevelopment services. NBCC also offers water treatment plants, water supply networks including raw water mains, and solid waste management

The 52-week high of the stock is Rs 139.90 per share while its 52-week low is Rs 40.52 per share.  The market capitalisation of NBCC is Rs 32,427 crore, according to Bombay Stock Exchange. The company falls under the BSE 500 category.