NBCC jumps on bagging contract worth Rs.400 crore

National Buildings Construction Corporation (NBCC) Limited has bagged a Rs. 400 crore contract to develop National Sports University at Imphal, Manipur. Shares of NBCC jumped over 5 per cent intraday in BSE.

NBCC (India) on Monday informed that it has signed a Memorandum of Understanding (MoU) with Ministry of Youth Affairs and Sports (MYAS), Department of Sports, Govt. Of India, to provide project management consultancy for development of National Sports University at Imphal, Manipur. The approximate cost to develop this project will be Rs. 400 crore.

NBCC (India) Limited, formerly known as National Buildings Construction Corporation Limited, is a government of India Navratna Enterprise. NBCC has operations spreading across India and Overseas. The company is organized into three market focused segment:- Project Management Consultancy (PMC), Engineering Procurement and Construction (EPC) and Real Estate ( RE). NBCC is designated as the implementing agency for executing projects under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT), Pradhan Mantri Gram Sadak Yojna (PMGSY), Solid Waste Management (SWM), and development work in North Eastern Region.

On Tuesday, the stock of NBCC limited opened at Rs. 36.00 per share and made an intraday high and low of Rs. 36.75 and Rs. 33.85, respectively on the BSE. The stock closed at Rs. 34.70, down by 0.57 per cent.