NCC rises 4% on bagging two orders worth ₹788.34 crore from Water Division

NCC shares rose 4 per cent as company secured two orders totalling ₹788.34 crore (excluding goods and services tax - GST), both for projects under its Water Division

NCC shares rose 4 per cent on Monday and logged an intra-day high at ₹212.8 per share on BSE. At 11:46 AM, NCC’s share price was trading 2.54 per cent higher at ₹209.8 per share. In comparison, the BSE Sensex was up 0.43 per cent at 80,149.25. 

 

The market capitalisation of the company stood at ₹2,47,282.61 crore. The 52-week high of the stock was at ₹330.85 per share, and the 52-week low was at ₹169.95.  FOLLOW STOCK MARKET UPDATES TODAY LIVE

Why were NCC shares in demand? 

The buying on the counter came after the company won two orders totalling ₹788.34 crore (excluding goods and services tax — GST), both for projects under its Water Division, the company said in an exchange filing.

 

In a letter to the BSE and the National Stock Exchange (NSE), NCC said the contracts were received in the normal course of business and have been awarded by state government agencies. The filing explicitly stated that the promoters, promoter group, and group companies have no interest in the entities that awarded the projects and that the orders do not fall under related-party transactions.

 

In Q1, NCC’s consolidated net profit stood at ₹192.14 crore, as compared to ₹209.92 crore, down 8.4 per cent. Its revenue from operations stood at ₹5,178.99 crore, as against ₹5,527.98 crore  a year ago.   ALSO READ | RITES share price jumps 5% on securing deal worth ₹25-crore from NTPC 

The total income for the quarter under review stood at ₹5,207.93 crore, as against ₹5,558.33 crore a year ago and total expenses stood at ₹4,941.53 crore, as compared to ₹5,258.96 crore. 

 

NCC Ltd is an Indian infrastructure and construction company. It converted to a limited company in 1990 and was listed on the National Stock Exchange in 1992.

 

NCC operates across multiple construction segments, including buildings, transportation, electrical transmission and distribution (T&D), water and environment, irrigation, railways, and mining, providing services from design and development to construction and project execution.