NBCC shares jump 12% to hit one-year high on fresh order win. Details here

NBCC (India) Ltd shares on Thursday surged 12.43 per cent to scale their fresh 52-week high of Rs 190. The stock eventually settled 10.38 per cent higher at Rs 186.55. At this price, the multibagger scrip has gained 128.08 per cent in 2024 so far.

Today's sharp uptick in the state-owned construction firm's shares came after it secured an order from National Institute of Technology, Patna, valued at Rs 36 crore.

"This is to inform that NBCC (India) Limited has recently been awarded the following work: PMC for Supervision of Construction & Development of incubation Centre at NIT Patna (Bihar Campus), Patna," NBCC stated in an exchange filing.

The scrip saw high trading volume today on BSE as 55.33 lakh shares changed hands. The figure was higher than the two-week average volume of 21 lakh shares. Turnover on the counter came at Rs 99.43 crore, commanding a market capitalisation (m-cap) of Rs 33,579 crore.

On technical setup, the counter was trading higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). The counter's 14-day relative strength index (RSI) came at 69.93. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The company's stock has a price-to-equity (P/E) ratio of 88.34 against a price-to-book (P/B) value of 14.23. Earnings per share (EPS) stood at 1.91 with a return on equity of 16.10.

NBCC, erstwhile National Buildings Construction Corporation, is a public sector undertaking firm under the Ministry of Housing and Urban Affairs. As of March 2024, the government held a 61.75 per cent stake in the company.

The housing ministry has recently approved the appointment of Suman Kumar as Director (Commercial) of NBCC.