NBCC shares approach 52-week high on order win from Khadi & Village Industries Commission

Shares of NBCC (India) rose 4% today after the state-owned civil construction firm won an order worth Rs 150 crore from Khadi & Village Industries Commission (KVIC). The order relates to planning, designing, and execution of upcoming works, including the construction of office buildings, residential campuses, and the redevelopment, repair, and renovation of KVIC properties pan India. 

NBCC stock gained 4.08% to Rs 61.10 in early deals on BSE.  

Total 12.67 lakh shares of the firm changed hands amounting to a turnover of Rs 7.65 crore on BSE. Market cap of the firm climbed to Rs 10,787 crore. NBCC shares have a beta of 1.4, indicating high volatility in a year.    

NBCC shares hit a 52-week high of Rs 63.65 on September 6, 2023 and fell to a 52-week low of Rs 29.85 on September 30, 2022 

On September 14, NBCC shares gained 12.92% intraday to Rs 63.65 on BSE after firm received an order from steel PSU Steel Authority of India Limited (SAIL). The 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 was Rs 180 crore. 

Additionally, NBCC signed 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.   

In terms of technicals, the relative strength index (RSI) of the NBCC stock stands at 61.8, signaling it's trading neither in the overbought nor in the oversold zone. NBCC shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day, 150 day, 200 day moving averages.   

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