After receiving a Rs 2,000 crore order for a housing project in Kerala, NBCC shares reached a 52-week high

6 Sep 2023 , 12:48 PM

On September 6, when the business said it had secured a Rs 2,000 crore contract from the Kerala State Housing Board, NBCC shares increased by more than 6% to reach their 52-week high of Rs 63.65 in the opening trade. The Kerala State Housing Board and NBCC have signed a memorandum of understanding (MoU) for the development of a 17.9-acre land parcel in Kochi’s Marine Drive.

For the most recent fiscal year, FY 2022–23, NBCC reported a total operating revenue of Rs 8,754.44 crore. As of the close on September 5th, the company’s market capitalization was above Rs 10,700 crore.

In the last five trading sessions, the stock increased by more than 15%, and over the previous six months, it increased by 65%. The NBCC stock price on September 5 was Rs 59.1.

A work order for planning, designing, and carrying out structural and non-structural repairs at Mint, Mumbai factory premises, renovation work, structural and non-structural repairs of the residential quarters at Mint Premises, and the building of a transit camp at Mint Colony, Parel, Mumbai, was previously given to the company on September 4. The order is worth 20 crore rupees.

The Indian Medical Association awarded the company a work order in August for the planning, design, and construction of the IMA House in Indraprastha, New Delhi, totaling Rs 66.32 crore. Within 30 months, the order is anticipated to be carried out.

A government-owned infrastructure company under the Ministry of Housing and Urban Affairs is called NBCC (India) Limited. Real estate, project management consulting, and engineering procurement & construction make up their three main business sectors.

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