NBCC share price rises 4% as company bags ₹179 cr work order

NBCC (India) share price extended gains to a third session as it continued to grow its order book

NBCC (India) share price today: NBCC (India) share price rose in Friday’s session as the company bagged an order worth ₹179.37 crore from the Indian Institute of Management (IIM) Sambalpur. The stock price has now recorded gains for a third session in a row. 

 

NBCC (India) share price was trading 3.59 per cent at ₹112.10 apiece as of 1:46 p.m., as compared to 0.62 per cent advance in the Nifty 50 index.

 

So far in Friday’s session, NBCC (India) saw trades of around 0.34 million shares on the BSE as against the two-week average volume of 0.64 million shares. 

 

Why did NBCC (India) share price rise today?

 

NBCC (India) share advanced as it received an order from the Indian Institute of Management (IIM), Sambalpur to provide project management consultancy services for Phase-II Infrastructure Development of the permanent campus. The order worth is ₹179 crore, as per the exchange filing. 

 

This is the fifth such order received by NBCC (India) in December thus far. On Tuesday, the company received orders worth ₹345.04 crore from the Indian Institute of Technology, Mandi, and Kandla Special Economic Zone Ltd, it said in an exchange filing.

 

For Indian Institute of Technology, NBCC (India) will carry out the project management consultancy services for planning, designing, and development forconstruction of academic blocks, two-bedroom and three-bedroom housing and student activity centre, including a sports complex. 

 

For the Kandla Special Economic Zone, the civil construction company will carry out the annual maintenance work. 

 

Last week, NBCC (India) received orders worth ₹289.39 crore from the National Aluminium Company Ltd., and Steel Authority of India’s Bokaro unit, according to an exchange filing. For NALCO, it will execute various civil, electrical, water supply, horticulture, construction and repairs of certain construction structures and dismantling of existing buildings along with some new construction work.   

 

On December 3, NBC (India) informed in an exchange filing that it received multiple orders worth ₹665.38 crore in the ordinary course of business. 

 

NBCC (India) reported that its consolidated net profit advanced 53 per cent to ₹125.13 crore for the quarter ended in September from ₹81.90 crore in the corresponding period a year ago. Total income of the civil construction company advanced to ₹2,525.95 crore during July–September compared to ₹2,134.36 crore.