1:2 bonus share & Rs 81,000 crore order book: Civil Construction Company Bags New Order Worth Rs 112 Crore From Minorities & Backward Classes Welfare Department
The stock gave multibagger returns of over 100 per cent from its 52-week low is Rs 42.55 per share.
On Tuesday, shares of NBCC (India) Ltd-backed by the President of India & LIC; plunged 0.84 per cent to Rs 89.26 per share from its previous closing of Rs 90.02 with an intraday high of Rs 92.10 and an intraday low of Rs 89.08. The company has a market cap of Rs 24,230 crore and has been maintaining a healthy dividend payout of 35 per cent.
NBCC (India) Limited has recently been awarded a significant project valued at approximately Rs 112 Crore. This project involves the upgradation of seven Ashram Schools and one High School to Higher Secondary Schools across Malkangiri, Koraput, and Nuapada districts in Odisha. The specific projects include the upgradation of Badapada High School to a Higher Secondary School (Art Stream) in Malkangiri, and the conversion of seven Ashram Schools in Koraput and Nuapada districts into High Schools. This initiative is expected to significantly enhance educational infrastructure and opportunities in these regions.
Furthermore, the shares of the company ex-traded bonus shares in the ratio 1:2 i.e., 1 new fully paid-up equity share of Re 1 each for every 2 existing fully paid-up equity shares of Re 1 each to the eligible members of the company as on record date. The ex-date for bonus shares was Monday, October 07, 2024.
NBCC (India) Limited, a prominent government-owned construction company under India's Ministry of Housing and Urban Affairs, offers a comprehensive suite of services across three key segments. Their project management consultancy (PMC) arm tackles civil construction projects for various sectors including residential, commercial, healthcare, and educational institutions. Additionally, they specialize in engineering, procurement, and construction (EPC) for complex structures like high-rise chimneys and cooling towers. Finally, NBCC (India) Limited is a major player in real estate development, building residential townships, apartments, commercial office spaces, and shopping malls.
According to the Quarterly Results, the net sales increased by 19.50 per cent to Rs 2,458.73 crore and the net profit increased by 53 per cent to Rs 124.88 crore in Q2FY25 over Q2FY24. In its half-yearly results, the net sales increased by 16 per cent to Rs 4,602.89 crore and the net profit increased by 46 per cent to Rs 232.09 crore in H1FY25 over H1FY24.
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Order Book: The company's order book as of June 30, 2024, crosses Rs 81,000 crore. The current year target is around Rs 10,000 crore turnover at the standalone and Rs 13,000 crore at the consolidated level
As of October 2024, the President of India owns a 61.75 per cent stake and the Life Insurance Corporation of India (LIC) owns a 5.11 per cent stake in the company. The stock gave multibagger returns of over 100 per cent from its 52-week low is Rs 42.55 per share. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.