Multibagger stock under Rs 100: This civil construction company receives order worth Rs 2,000 crore from Kerala State Housing Board; scrip hit 52-week high!

The stock gave multibagger returns of 114 per cent returns from its 52-week low of Rs 29.85 per share.

NBCC (India) Ltd informed that the company have 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.

Earlier, the company received an order worth Rs 20 crore from Indian Government Mint, Mumbai. The order includes planning, designing and execution of structural and non-structural repairs at factory premises along with renovation works and structural and non-structural repairs of residential quarters at Mint Premises. The time period of the order is yet to be declared.

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. 

According to the Quarterly Results, the net sales increased by 7 per cent to Rs 1,918 crore, the operating profit increased by 9.62 per cent to Rs 57 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 shares of the company have a ROE of 20 per cent and a ROCE of 26.2 per cent. Also, the company has been maintaining a healthy dividend payout of 44.4 per cent

On Wednesday, shares of NBCC (India) Ltd plunged 0.02 per cent to Rs 59.77 per share from its previous closing of Rs 59.87. The stock also traded at a new 52-week high of Rs 63.65 per share with a spurt in volume by more than 2.36 times on BSE.

The stock gave multibagger returns of 114 per cent returns from its 52-week low of Rs 29.85 per share. Investors should keep an eye on this Mid-Cap stock.

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