)
Shares of National Building Construction Corporation (NBCC) rallied 10% to Rs 883 on the NSE on the back of heavy volumes after the government launched housing, smart city and urban renewal schemes.
Prime Minister Narendra Modi on Thursday launched three government flagship schemes aimed to change the face of urban India—Smart Cities mission, Atal Mission for Rejuvenation and Urban Transformation (AMRUT) and Housing for All mission—with an expected expenditure of around Rs.4 trillion over the next few years.
Currently, NBCC is the only Government of India company engaged in the business of real estate. Activities in this segment include development of residential, commercial and institutional real estate projects, for which NBCC either purchases land parcels or enters into joint ventures/consortia.
The stock opened at Rs 812 and touched a high of Rs 895 on the BSE. Till 1421 hours, a combined 4.4 million shares changed hands against an average sub-one million shares that were traded daily in the past two weeks on the BSE and NSE.
Prime Minister Narendra Modi on Thursday launched three government flagship schemes aimed to change the face of urban India—Smart Cities mission, Atal Mission for Rejuvenation and Urban Transformation (AMRUT) and Housing for All mission—with an expected expenditure of around Rs.4 trillion over the next few years.
Currently, NBCC is the only Government of India company engaged in the business of real estate. Activities in this segment include development of residential, commercial and institutional real estate projects, for which NBCC either purchases land parcels or enters into joint ventures/consortia.
The stock opened at Rs 812 and touched a high of Rs 895 on the BSE. Till 1421 hours, a combined 4.4 million shares changed hands against an average sub-one million shares that were traded daily in the past two weeks on the BSE and NSE.
