Navratna PSU NBCC witnessed an uptick in its stock value after confirming a series of orders, both from the government and private sector, totaling close to Rs 500 crore. In an exchange filing dated June 5, NBCC announced that it had received 13 separate orders amounting to Rs 491.45 crore. Notably, the largest order, valued at Rs 130 crore, comes from the Ministry of External Affairs for constructing residences at a government plot in New Delhi. Additionally, NBCC has been contracted to build a multi-facility healthcare complex in Mumbai’s Antop Hill area for Rs 112 crore.
Following this announcement, NBCC shares rebounded, rising by 8 percent near the Rs 140 levels around 11:30 am on June 6. This positive movement in share price follows a two-day decline.
In its fourth-quarter results reported on May 29, the state-owned construction firm witnessed a significant increase in net profit, jumping by 24.6 percent year-on-year to Rs 141.5 crore. Revenue from operations also saw a notable surge, increasing by 43 percent year-on-year to Rs 4,025 crore during the quarter under review.
