Penny PSU construction company stock surged by 10 per cent after bagging new order

Over the past one year shares of company has increased its value by 75 per cent

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. Today shares of the company have surged by more than 10 per cent after bagging new order from Steel Authority of India Limited (SAIL) - Bokaro Steel Plant.

NBCC will provide Consultancy and Project Management services for various infrastructural projects. The specific details of the projects and the scope of the services are expected to be comprehensive, encompassing the development, planning, execution, and management of these initiatives. The projects are aimed at enhancing the infrastructure at the Bokaro Steel Plant, ensuring its continued growth and efficiency.

The exact timeline for the execution of the contract is yet to be decided, but NBCC is expected to commence work promptly to ensure the successful and timely completion of the projects. The total value of the contract is Rs 180 Crores, indicating the scale and importance of the projects under consideration.

Above of the order, company has recently entered into a quadripartite Memorandum of Understanding (MoU) with the Ministry of Steel (MoS) Government of India, Rashtriya Ispat Nigam Limited (RINL), and National Land Monetization Corporation Ltd. (NLMC) to monetize non-core assets of RINL located in Vishakhapatnam.

This MoU aims to leverage the expertise of NBCC as the Technical cum Transaction Advisor to facilitate the monetization process of non-core assets owned by RINL in Vishakhapatnam.

Yesterday the script was closed at Rs 56.23 and today it was opened at Rs 59.80. Today it was closed at Rs 60.67, up by 7.90%. Today it went to day high of Rs 63.50 just missed to touch 52 week high of Rs 63.65. It has 52 week low of Rs 29.85. Company has market capitalisation of around Rs 10,900 crore. Over the past one year share of company has increased its value by 75.94 per cent.

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