NBCC's stock zooms ~3% on bagging order worth Rs500 crore from Ladakh Govt

21 Mar 2022 , 11:25 AM

On Monday early morning trade, NBCC’s stock gained as much as 3% after the state-run construction company received a work order from the Union Territory Administration, Ladakh.

The company’s scope of work includes comprehensive design, engineering, and project management consultancy for various works. The company informed that the estimated project cost will be Rs500 crore.

NBCC’s counter rose to Rs40 so far in today’s trade and was last trading 1.16% higher at Rs39.30 against its previous closing price of Rs38.85 on NSE.

In its financial results update, the construction player has reported a 10% decline in its consolidated net profit for the quarter ended December 2021 at Rs87.03 crore.

Last week, the company also announced the resignation of its Independent Director Dr. Raghavendra Sharma.