NBCC shares in news as navratna firm wins order from SAIL

Shares of NBCC (India) Ltd are in news today after the state-owned civil construction firm received an order related to consultancy & project management services order from Steel Authority of India Limited (SAIL) for upcoming infrastructural-related projects of Bokaro Steel Limited Plant, township, Mines & Collieries. The value of the order is Rs 180 crore. 

Additionally, NBCC has inked a quadripartite MoU with Ministry of Steel (MoS) Govt. of India, Rashtriya Ispat Nigam Limited (RINL) and National Land Monetization Corp. Ltd. (NLMC) for monetization of the Non-core assets of RINL at Vishakhapatnam. As per MoU, the Navratna would act as technical cum transaction advisor and assist ministry of steel (MoS), RINL and NLMC in monetisation of non-core assets of RINL available at Vishakhapatnam. 

On Wednesday, NBCC shares ended 2.76% higher at Rs 56.23 against the previous close of Rs 54.72 on BSE. Total 26.41 lakh shares of the firm changed hands amounting to a turnover of Rs 14.52 crore on BSE. Market cap of the firm climbed to Rs 10,121.40 crore.  NBCC shares have a beta of 1.4, indicating high volatility in a year.  

In terms of technicals, the relative strength index (RSI) of the NBCC stock stands at 60.3, signaling it's trading neither in the overbought not in the oversold zone. NBCC shares are trading higher than the 20 day, 50 day, 100 day, 150 day, 200 day moving averages but lower than the 5 day and 10 day moving averages. 

NBCC reported a consolidated net profit of Rs 77.41 crore in the first quarter of this fiscal year against a net loss of Rs 4.84 crore in the year-ago period. 

Total income rose to Rs 1,965.80 crore during April-June quarter of 2023-24 financial year from Rs 1,853.24 crore in the corresponding period of the previous year.  

Net consolidated total income grew 6.61% to Rs 1,917.87 crore in Q1 FY24, against Rs 1,798.99 crore it recorded in the corresponding quarter last year. 

NBCC (India) Limited provides value added services. The Company operates through three segments: Project Management Consultancy (PMC), Real Estate Development, and Engineering Procurement and Construction (EPC). PMC segment is engaged in civil construction projects, infrastructure works for the national security, infrastructure projects for the civil sector, and project implementation for Pradhan Mantri Gram Sadak Yojna (PMGSY) and developmental work in Northeastern Region.  

 

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