NCC strengthens order book by Rs. 358.9 crore in June
Hyderabad-based construction company NCC made a stock exchange filing notifying about its fresh order book for the June 2019, on Monday.
The company received two new orders totalling to Rs. 358.9 crore, excluding GST, in the month of June 2019, said the company in a filing to the exchange. Of these, one order worth Rs. 163.8 crore is for its Roads Division while the second order worth Rs. 195.1 crore is for the company's Electrical Division. These orders are from state government agencies and do not include any internal orders.
The company was recently in news after reports that the Andhra Pradesh government has proposed to cancel some of the contracts which were awarded NCC. The company had clarified that even if this happens, the company only faces a risk of losing around Rs. 6,100 crore while its order book is worth Rs. 41,197 crore. This order book will help the company maintain a turnover similar to that of last fiscal in FY20.
On Monday, at 15.16 hours, the stock traded at Rs. 94.90 per share, down by 2.72 per cent on BSE.