NBCC shares rise 13% on order win from SAIL

Shares of NBCC (India)  rose nearly 13% 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. Market cap of the firm rose to Rs 11,082 crore.

NBCC stock gained 12.92% to Rs 63.65 on BSE. On Wednesday, NBCC shares ended 2.76% higher at Rs 56.23 on BSE.  In the current session, total 53.76 lakh shares of the firm changed hands amounting to a turnover of Rs 33.09 crore on BSE. Market cap of the firm climbed to Rs 10,969 crore.  NBCC shares have a beta of 1.4, indicating high volatility in a year.

 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.

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 5 day, 10 day, 20 day, 50 day, 100 day, 150 day, 200 day moving averages.

NBCC logged 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 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 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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