Nitco shares rise 3% on securing ₹19.4-crore from Prestige and Lodha

Nitco stock rose as much as 2.89 per cent after winning orders worth ₹19.44 crore from Prestige Estates and Lodha Group

Shares of Nitco Ltd rose nearly 3 per cent on Monday after the company bagged orders worth ₹19.44 crore from Prestige Estates Projects and Lodha Group. 

 

The ceramics firm's stock rose as much as 2.89 per cent during the day to ₹118.8 per share, the biggest intraday rise since September 12 this year. The Nitco stock pared gains to trade 0.5 per cent higher at ₹116 apiece, compared to a 0.08 per cent advance in Nifty 50 as of 10:25 AM. 

 

Shares of the company rose for the second straight session and currently trade at 2 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 8 per cent this year, compared to a 6 per cent advance in the benchmark Nifty 50. Nitco has a total market capitalisation of ₹2,654.32 crore.  

 

Nitco bags ₹19-cr supply orders from Prestige & Lodha

The company said it has received a tiles and marble order worth ₹19.44 crore from Prestige Estates Projects and Lodha Group. The order, expected to be executed over 12 months, underscores the company’s ability to deliver quality products and timely execution for reputed developers.

 

The contract, awarded by domestic entities, involves the supply of premium building materials to ongoing residential and commercial projects by the two developers.

 

Nitco confirmed that neither its promoters nor the promoter group nor group companies have any interest in the awarding entities. The transaction is not classified as a related party transaction and is being executed on an arm s-length basis.

 

The company reported consolidated net profit of ₹47.46 crore in the first quarter of the current financial year (Q1 FY26 )as against a net loss of ₹43.52 crore in Q1 FY25. Revenue from operations surged 114.8 per cent year on year to ₹149.66 crore in Q1 FY26. 

About Nitco

Nitco, incorporated in 1966, is a prominent player in the tiles and marble industry, recognised for its diverse range of premium-quality products. 

 

The company operates over 50 retail outlets across India, catering to various segments such as designer bathroom tiles, kitchen tiles, outdoor tiles, and commercial tiles. Its extensive portfolio includes wall tiles, floor tiles, and marble, with products designed to meet both residential and commercial requirements. 

 

Nitco has also successfully expanded its customer base to international markets, offering innovative designs and superior craftsmanship. Its product range spans categories like ceramic tiles, vitrified tiles, designer tiles, wooden tiles, natural stone tiles, and mosaic, among others.