52-week high alert: Heavy buying witnessed in this mid-cap company; do you own it?

The stock has gained momentum in the past one year and has given more than 95 per cent returns.  

On Friday, the shares of NCC Limited zoomed by 4.59 per cent, reaching a fresh 52-week high of Rs 128.65 per share on BSE. The stock witnessed a surge in trading volume.  

NCC Ltd. works in the infrastructure sector, notably in the construction of industrial and commercial buildings, highways, water supply and environment projects, mining, electricity transmission lines and so on.  

For Q4FY23, the company’s net sales increased by 42.33 per cent on YoY basis, from last year’s same quarter to Rs 4,949 crore. The operating profit witnessed a growth of 72.86 per cent on YoY basis, amounting to Rs 465 crore. Furthermore, company’s net profit showed a decline of 13.24 per cent on YoY basis, from corresponding quarter last year, reaching Rs 203 crore.   

In fiscal year ended March 31, 2023, the company’s revenue from operations surged by 39.64 per cent on YoY basis, from last year to Rs 15553.41 crore. The profit after tax of company zoomed by 39.41 per cent on YoY basis, from corresponding last year to Rs 884.85 crore. The net profit stood at Rs 646.21 crore, witnessing a growth of 30.80 per cent on YoY basis, over FY22.   

The stock has gained momentum in the past one year and has given more than 95 per cent returns. Keep a close eye on this trending stock.

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