NBCC India subsidiary secures Rs 600-cr order; Shares advance over 3%

The uptick in the stock price follows the news that NBCC (India) said its wholly owned subsidiary, HSCC (India), has received two orders from the National Health Mission, Maharashtra

Shares of state-owned Navratna company NBCC (India) rallied 3.40 per cent to hit a day's high of Rs 103.40 on the BSE on Thursday, December 5, 2024, after its subsidiary, HSCC (India), bagged work orders worth Rs 600 crore.

 

On the trading front, nearly 13.08 million shares of the civil construction company, worth around Rs 132.42 crore, changed hands on both the BSE and NSE during intra-day trade on Thursday.

 

In an exchange filing, NBCC (India) said that HSCC (India), a wholly owned subsidiary of the comapny, has received two orders from the National Health Mission, Maharashtra. The first order, valued at approximately Rs 259.35 crore, involves establishing and operating the Hinduhridaysamrat Balasaheb Thackeray Aapla Dawakhana in Maharashtra. The second order, estimated at Rs 340 crore, entails setting up a Radiation Oncology Unit on a turnkey basis across various districts in Maharashtra.

 

 

Formerly known as National Buildings Construction Corporation, NBCC (India) is a Navratna Enterprise operating under the Ministry of Housing and Urban Affairs, Government of India. The company's current operations are categorised into three main segments: Project Management Consultancy (PMC), Real Estate Development, and EPC Contracting. NBCC (India) has been executing numerous projects as a PMC, which contributes about 90 per cent of its annual revenue. Its core strength lies in this segment, covering areas such as redevelopment of government properties, roads, hospitals and medical colleges, institutions, offices, airports, bridges, industrial and environmental structures, and more.

 

NBCC (India) boasts a market capitalisation of Rs 27,788.40 crore on the BSE. The civil construction company is a constituent of the BSE 500 index.

 

Shares of the company traded at their 52-week high of Rs 139.90 on the BSE on August 28, 2024, while their 52-week low of Rs 48.39 was recorded on December 21, 2023.

 

The PSU stock has delivered a return of nearly 88 per cent year-to-date.

 

At around 2:05 PM on Thursday, shares of NBCC (India) were trading at Rs 102.92, up 2.92 per cent from the previous close of Rs 100.

 

Meanwhile, the broader equity indices were also trading higher, recovering from early losses. The BSE Sensex was at 81,646.94, down 690.61 points or 0.85 per cent, while the NSE Nifty stood at 24,553, up 185.55 points or 0.76 per cent.