NBCC Secures ₹230 Crore in New Orders from Government Clients, Shares Rebound
NBCC's ₹148 Crore Order from Ministry of Health & Family Welfare
NBCC (India) announced on Friday, January 24, that it received an order worth ₹148 crore from the Government of India (GoI). The order includes the construction of 72 dwelling units, four lecture halls for nursing college and paramedical sciences, a 204-bedded UG boys hostel, a 334-bedded UG girls hostel, and the installation, testing, and commissioning of an interactive rooftop solar photovoltaic power generation system at AIIMS, Bilaspur.
NBCC's ₹81.35 Crore Order from IIM Visakhapatnam
In addition, NBCC received a separate order worth ₹81.35 crore from the Indian Institute of Management, Visakhapatnam. This order includes project management consultancy (PMC) services for the construction of a new hostel, dining building, and allied infrastructure at the institute's permanent campus.
NBCC's MoU with Sarkari Awas Nirman Avam Vitt Nigam Ltd.
Last Monday, January 13, NBCC intimated the exchanges about the Memorandum of Understanding between the company and Sarkari Awas Nirman Avam Vitt Nigam Ltd. As per the release, NBCC (India) Limited has entered into an MoU with the latter party, whereby the latter has agreed to award the works related to the execution of a mixed land use development project of Poorvi Vihar, Lucknow, approximately admeasuring 588 Acre, to NBCC as Project management Consultant.
NBCC's Share Price Performance
Following the announcement, NBCC's share price showed signs of recovery but remained in negative territory. After hitting an intraday low of ₹90.68, the stock climbed to ₹93.55 before encountering profit booking. By around 2:30 PM, it was trading 0.90 per cent lower at ₹91.30. The stock has gained nearly 40 per cent over the last year, hitting a 52-week high of ₹139.90 on August 28 after hitting a 52-week low of ₹69.79 on January 25 last year.