NBCC Signs MoU with Currency Note Press, Shares Rise 2%

5 Jul 2023 , 09:29 AM

Shares of NBCC (India) Ltd rose by 2% in afternoon trade on July 4 following the company’s announcement of signing an MoU with Currency Note Press (CNP) under Security Printing and Minting Corporation of India Limited (SPMCIL).

The MoU was signed on June 23 between CNP’s Chief General Manager (CGM) Bolewar Babu and NBCC’s CGM (Engineering) Pradeep Sharma. 

The agreement focuses on planning, designing, and executing upcoming projects, including a state-of-the-art museum and infrastructure development works like treatment plants at CNP Nasik.

NBCC (India) recently reported its Q4FY23 results, with consolidated net profit growth of 205% to Rs 108.4 crore compared to Rs 35 crore in the same period last year. The company’s revenue from operations in Q4 reached Rs 2,790 crore, representing a 4.3% increase from Rs 2,441 crore in the corresponding year-ago period.

For feedback and suggestions, write to us at [e-mail]