NBCC gains on partnership with Malaysian JV for redevelopment

The company has signed a pact with Malaysian joint venture company China Railway Engineering Corporation (M) Sdn Bhd & Amona Group

Shares of National Buildings Construction Corporation were up nearly 2% at Rs 752 on the Bombay Stock Exchange after the company informed that it has signed an agreement with a Malaysian JV.

The company in a release said that it has formed strategic partnership by executing Memorandum of Business Education on June 10, 2015 with Malaysian joint venture company China Railway Engineering Corporation (M) Sdn Bhd & Amona Group for exploring further areas of re-development around New Delhi railway station.

The stock opened at Rs 752 and touched a high of Rs 765. At 12:30PM, over 440,000 shares were traded on both the stock exchanges.