Multibagger penny stock under Rs 60: This civil construction company receives order worth Rs 100 crore from Steel Authority of India!

The stock is up by 75 per cent in just 1 year and over 150 per cent in 3 years.

NBCC (India) Ltd informed that the company have received an order worth Rs 100 crore Steel Authority of India (Bhilai Steel Plant). The order includes construction of various development work at township and mines of SAIL Bhilai Steel Plant. The time period of the order is yet to be declared.

Earlier, the company received an order worth Rs 2,000 crore from Kerala State Housing Board, Government of Kerela. The order includes the development of 17.9 acres of land parcel of Kerala State Housing Board at Marine Drive, Kochi, Kerala. The time period of the order is yet to be declared. And another order worth Rs 150 crore from the Khadi & Village Industries Commission. The order includes planning, designing and execution of upcoming works such as construction of office building(s), residential campus, re-development, repair & renovation of KVIC properties Pan India etc.

NBCC (India) Limited is a Government of India Navratna Enterprise under the Ministry of Housing and Urban Affairs. The company operates in three major segments - Project Management Consultancy, Engineering Procurement & Construction and Real Estate. The company has a market cap of over Rs 10,000 crore.

According to the Quarterly Results, the net sales increased by 7 per cent to Rs 1,918 crore and the net profit skyrocketed to 1,640 per cent to Rs 77 crore in Q1FY24 over Q1FY23. The company also reported excellent numbers in its annual results. The company has been maintaining a healthy dividend payout of 44.4 per cent

On Friday, shares of NBCC (India) Ltd surged 1.82 per cent to Rs 58.27 per share from its previous closing of Rs 57.23. The stock’s 52-week high is Rs 63.65 and its 52-week low is Rs 29.85.

The stock is up by 75 per cent in just 1 year and over 150 per cent in 3 years. Investors should keep an eye on this Mid-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.