NBCC jumps 4 per cent on SAIL order win

Public sector NBCC informed the bourses that it has received an order from SAIL (Steel Authority of India) amounting to Rs. 250 crore, on Thursday.

The order is for the construction of Ispat Medical Institute and Super-Speciality Hospital at Rourkela Steel Plant, Rourkela. The proposed hospital will have 156 beds with super-specialities like cardiology, cardiac surgery, neurology and nephrology and will be spread across 3 lakh square metres.

NBCC is a navratna organisation which provides civil and engineering construction service. Being a government company, NBCC secures ~95 per cent of order books from the government on a nomination basis. The company has an order book of more than Rs. 80,000 crore in hand. This leads to book/bill ratio of 13x which is highest amongst infrastructure companies.

Cheering the news, the stock jumped by 4 per cent and made an intraday high of Rs. 75.85 on the BSE.