Jhunjhunwala stock: NCC shares jump 4% as order wins in September value at Rs 4,206 crore

Rekha Jhunjhunwala portfolio stock NCC Ltd climbed 3 per cent in Tuesday's trade after the company said it bagged three orders worth Rs 4,206 crore (excluding GST) in the month gone by. NCC said one of the orders related to water division was worth Rs 819.20 crore, another order worth Rs 173.19 crore was related to electrical division while the third order worth Rs 3,213.55 crore was related to transportation division.

Following the development, the stock rose 3.99 per cent to hit a high of Rs 161.30 on BSE. The scrip still needs a 9.70 per cent jump to revisit 52-week high of Rs 176.95 that the stock hit last month.

NCC's value of share in the order at Rs 3,213.55 crore accounted for 51 per cent of the total Rs 6,301 crore order it bagged jointly with y J Kumar Infraprojects (49 per cent) in a joint venture. The order was won from Brihanmumbai Municipal Corporation and disclosed to NSE and BSE on September 22. It was for designing, constructing and operating twin tunnel from Film City Goregaon to Khindipada, Mulund. The work included box tunnel at Film City, electrical, mechanical and associated works, the company had informed stock exchanges in September.

"The sharing ratio of the parties in the JV is NCC (51%) & JKIL (49%). The duration of the project is five years and O&M is for 10 years.

"These orders are received from State and Central government agencies and does not include any internal orders," NCC said.

Rekha Rakesh Jhunjhunwala owned nearly 13.09 per cent stake in NCC at the end of June quarter. Jhunjhunwala has stayed status quo on her holding in the stock for at least three quarters. He stake in NCC is worth Rs 1,300-odd crore.

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