NCC share rises on receiving order worth Rs 3,905 crore

NCC Limited, a construction engineering company announced on Wednesday that it has received four new orders in the month of November 2020. Reacting to the news, its share rose nearly 4 per cent on BSE.

The company has received an order worth Rs 3,905 crore exclusive of GST in the month of November. Out of the four orders, one belongs to the water division amounting to Rs 848 crore and the remaining three orders belong to the building division worth Rs 3,057 crore. All the orders have been received from state/central government agencies. The projects are to be executed within a period of 24 months to 42 months from the date of the award.

NCC Limited is engaged in the construction of roads, buildings & houses, railways, power & irrigation. The company earns a majority of the revenue of approximately 41 per cent from buildings segment, 15 per cent from roads, 24 per cent from water & environment segment, 10 per cent from the electrical segment, 3 per cent from irrigation, 3 per cent from mining and the rest 4 per cent from other services.

The company’s project execution has gathered momentum; however, recovery has been gradual. As of September 2020, the company’s order book stood at Rs 29,361.66 crore. Besides, in Q2FY21, it secured orders aggregating to Rs 2,962.21 crore.

At 12.54 pm today, its share was trading 2.57 per cent higher at Rs 45.85 on BSE. It recorded an intraday high of Rs 46.5 and an intraday low of Rs 44.8 on BSE.