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NBCC (India) gains on bagging new orders in Oct

Capital Market 

NBCC (India) rose 1.23% to Rs 24.70 after the state-owned construction company said that it secured total business of Rs 1165.52 crore in October 2020.

The announcement was made on Monday (16 November 2020), when the markets were shut on account of Diwali Balipratipada.

Separately, NBCC (India) on Friday (13 November) announced that it has awarded the work of constructing smart township/colony with colony road network and other road, service building and other allied jobs related to mines for Magadh & Amrapali area of Central Coalfield (CCL) at Jharkhand to Ram Kripal Singh Construction (L-1) at their quoted price of Rs 611,83,95,876.

On a consolidated basis, NBCC (India) reported net profit of Rs 45.61 crore in Q2 September 2020 as compared to a net loss of Rs 90.91 crore in Q2 September 2019. Net sales declined 17.9% to Rs 1,360.12 crore in Q2 September 2020 over Q2 September 2019.

NBCC (India) provides civil engineering construction services. The firm operates through three segment viz., project management consultancy (PMC), real estate development & engineering, procurement and construction (EPC).

As of 30 September 2020, the Government of India held 61.75% stake in the company.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, November 17 2020. 13:32 IST