PSU stock in focus after securing ₹272 Cr multiple orders for construction projects

The shares of this PSU stock involved in the execution of diversified projects came into focus on Tuesday after receiving multiple orders worth Rs 272.33 crore.

Price Action

With a market capitalization of Rs 23,182.20 crore, NBCC (India) Ltd fell 5 percent on Tuesday’s trading session to an intraday low of Rs 85.53 per share compared to its previous closing price of Rs 90.27 per share. 

The stock retraced from its day’s low and was trading at Rs 85.86 which is 4.9 percent lower than the previous closing price.

What Happened

NBCC (India) Limited has recently secured contracts totaling approximately Rs 272.33 crore. The project covers planning, designing, and infrastructure development at the Central University of Punjab, Bathinda for a consideration of Rs 170.33 crore.

The contract also includes multiple construction projects worth Rs 102 crore for Navodaya Vidyalaya Samiti (NVS), comprising a regional office building in Guwahati, central covered courtyard at various JNVs in Assam, and multipurpose halls in Meghalaya and Nagaland.

Company Overview

NBCC, formerly known as National Buildings Construction Corporation is a public sector undertaking (PSU) company under the Ministry of Housing and Urban Affairs with Government of India holding 61.75 percent. The company’s present areas of operations are  Project Management Consultancy (PMC), Real Estate Development and EPC Contracting. 

With an order book worth more than Rs 84,400 crore, the company is the only CPSE working in real estate. NBCC has been executing many landmark projects as a PMC which contributes to about 90 percent of its annual revenue. 

Written by Shwetha Sairam

Disclaimer

The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.

The post PSU stock in focus after securing ₹272 Cr multiple orders for construction projects appeared first on Trade Brains.