1:2 bonus share & Rs 84,400 crore order book: Multibagger stock under Rs 100 rockets 8.10 per cent today; Company bags Rs 314 crore domestic orders
The stock gave multibagger returns of 126 per cent from its 52-week low is Rs 42.55 per share.
On Monday, shares of NBCC (India) Ltd-backed by the President of India & LIC; rocketed 8.10 per cent to Rs 96.29 per share from its previous closing of Rs 89.10 per share. The stock’s 52-week high is Rs 139.90 and its 52-week low is Rs 42.55. The company has a market cap of Rs 25,720 crore and has been maintaining a healthy dividend payout of 35 per cent.
NBCC (India) Limited, a prominent government-owned construction company under India's Ministry of Housing and Urban Affairs, offers a comprehensive suite of services across three key segments. Their project management consultancy (PMC) arm tackles civil construction projects for various sectors including residential, commercial, healthcare, and educational institutions. Additionally, they specialize in engineering, procurement, and construction (EPC) for complex structures like high-rise chimneys and cooling towers. Finally, NBCC (India) Limited is a major player in real estate development, building residential townships, apartments, commercial office spaces, and shopping malls.
According to the Quarterly Results, the net sales increased by 19.50 per cent to Rs 2,458.73 crore and the net profit increased by 53 per cent to Rs 124.88 crore in Q2FY25 over Q2FY24. In its half-yearly results, the net sales increased by 16 per cent to Rs 4,602.89 crore and the net profit increased by 46 per cent to Rs 232.09 crore in H1FY25 over H1FY24.
NBCC (India) Limited has recently secured two significant contracts. The first, valued at approximately Rs 202 crore, involves Project Management Consultancy Services for the construction of Unity Mall (PMEkta Mall) in Jaipur, Rajasthan. This project, commissioned by the Rajasthan State Industrial Development & Investment Corporation Ltd. (RIICO), aligns with NBCC's ongoing business operations and contributes to its growth strategy. In addition, the company has won a Rs 112 crore contract to upgrade educational infrastructure in Odisha's Malkangiri, Koraput, and Nuapada districts. This initiative aims to enhance educational opportunities in these regions by converting seven Ashram Schools into High Schools and one High School into a Higher Secondary School (Art Stream).
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Furthermore, the shares of the company ex-traded bonus shares in the ratio 1:2 i.e., 1 new fully paid-up equity share of Re 1 each for every 2 existing fully paid-up equity shares of Re 1 each to the eligible members of the company as on record date. The ex-date for bonus shares was Monday, October 07, 2024.
The company's order book as of September 30, 2024, stands at Rs 84,400 crore. As of October 2024, the President of India owns a 61.75 per cent stake and the Life Insurance Corporation of India (LIC) owns a 5.11 per cent stake in the company. The stock gave multibagger returns of 126 per cent from its 52-week low is Rs 42.55 per share. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.