NBCC Shares Fall 1% Despite Rs 134-Crore Odisha Project Wins

Shares of NBCC (India) Ltd fell 1% after touching a day’s high of Rs 120.40 on 6th January, despite the company saying on Monday (5th January) that it has received work orders worth around Rs 134.05 crore, according to a regulatory filing.

NBCC said the work orders were received in the ordinary course of business. These include a Rs 45.87 crore contract from Maharaja Sriram Chandra Bhanja Deo University in Odisha. The contract is for construction, repair, and renovation work at its Baripada campus in Mayurbhanj district under the PM-USHA scheme.

The company has also bagged an Rs 88.18 crore order from the Odisha School Programme Authority, Bhubaneswar. This order is for executing civil works under the Godabarisha Mishra Adarsha Prathamika Vidyalaya Scheme. NBCC said domestic entities awarded both contracts and will provide project management consultancy services. The work will be carried out in accordance with client specifications.

Earlier, on 31st December, NBCC (India) Ltd announced that it had secured three domestic orders worth around Rs 220.31 crore. The largest of these, valued at Rs 163.12 crore, was awarded by Canara Bank for planning, designing, and constructing its head office at Manyata Tech Park in Bengaluru.

The remaining orders included a Rs 9.01 crore contract from Navodaya Vidyalaya Samiti to construct a boys’ dormitory in Maharashtra and a Rs 48.18 crore order to develop a permanent campus in Telangana.

At 1:50 PM, shares of NBCC were trading 0.85% lower at Rs 118.63 on NSE.

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