NBCC shares gain 2% on winning multiple contracts

The shares of NBCC (India) Limited rose 2.07% to a session high of ₹93.98 per share on Friday as the company reported that it has secured contracts worth ₹300 crores and ₹44 crores.

The public sector undertaking received the ₹300 crores contract for the development of Jawaharlal Nehru Commercial Complex (JLNCC) in Varanasi, Uttar Pradesh on a self-sustainable model basis. The contract was awarded to NBCC by the Varanasi Development Authority.

Further, NBCC also won an order worth ₹24.38 crores for the construction of Mehta Family School of Data Science and Artificial Intelligence at IIT Rourkee in Uttarakhand. This contract also includes internal EIC, firefighting, fire alarm, lifts, audio visual system, CCTV and BMS installation and development works.

Additionally, NBCC secured a contract worth ₹44.37 crores for the construction and furnishing of a 500-bed multi-storey “Vishram Sadan” at AIIMS Gorakhpur in Uttar Pradesh. This order was placed by Power Grid Corporation.

The total order value aggregates to ₹368.75 crores and NBCC said that these orders are normal course of business.

The state-owned company carries out Project Management Consultancy (PMC), Engineering, Procurement and Construction (EPC) and real estate businesses.

At close on Friday, the shares of NBCC (India) Limited were 1.43% higher at ₹93.39 per share as compared to the previous close of ₹92.07 per share on the National Stock Exchange (NSE).

Summary: 

The shares of NBCC (India) Limited rose 2.07% on Friday as the company secured multiple contracts amounting to ₹368.75 crores.