NBCC shares hit 52-week high after Rs 2,000-cr order win for Kerala housing project

NBCC shares jumped more than 6% to hit a 52-week high of Rs 63.65 in the opening session of September 6, after the company announced it had won an order worth Rs 2,000 crores from the Commission. Housing in the State of Kerala. NBCC has signed a Memorandum of Understanding with the Kerala State Housing Board to develop a 17.9-acre lot at Kochi’s Marine Drive.
NBCC reported total operating income of Rs 8,754.44 crore for the most recent fiscal year 2022-23. The company has a market capitalization of over Rs 10,700 crore as of the close of business September 5.
The stock has gained more than 15% in the last five trading sessions; it has increased 65% in the last six months. NBCC shares closed at Rs 59.1 on September 5
Prior to that, on September 4, the company received a work order for the planning, design and construction of structural and non-structural repairs at the Mint plant campus, Mumbai, as well as renovation works. and structural and non-structural repairs to Mint neighborhoods. basis. and build a feeder camp at Mint Colony, Parel, Mumbai. The order value is 20 billion VND.
In August, the company won an order worth Rs 66.32 crore from the Indian Medical Association for the planning, design and construction of the IMA building in Indraprastha, New Delhi. Orders must be made within 30 months.
NBCC (India) Limited is a public infrastructure company under the Ministry of Housing and Urban Affairs. They operate in three main segments: real estate, engineering and project management consulting, procurement and construction.