Shares below 50: Keep a close eye on this company which bagged a huge order!

The company had recently informed the exchange, that they had been awarded with the work of construction of a new multistoried quarter

On Friday, shares of NBCC zoomed more than 4.5 per cent to make an intraday high of Rs 39.45. The scrip witnessed a spurt in volume by more than 1.42 times. After some profit booking, the stock closed 2.65 per cent up at Rs 38.75. 

The company had recently informed the exchange, that they had been awarded with the work of construction of a new multistoried quarter complex consisting of 100 number of quarters, by demolishing the existing 224 number of quarters at Bhubaneshwar, by Odisha Power Transmission Corporation Limited for a total value of Rs 69.30 crore. 

In September quarter FY23, the company had posted a net profit of Rs 99 crore as compared to a net loss of Rs 4.5 crore in the June 2022 quarter. Its revenue from operations witnessed a growth of 8 per cent to Rs 2029 crore from the corresponding quarter last year.  For the month of November 2022, the company secured total business of Rs 300.41 crore. 

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. NBCC is expecting to generate revenue worth Rs 9000 crore during the current financial year, having already earned Rs 3828 crore in the first six months of the year. 

The company has shown positive traction in the past 6 months as it has gained over 35 per cent. Keep a close eye on this trending stock.