NBCC stock gains on order-win worth Rs 100 crore from SAIL

Shares of NBCC were trading 3 per cent higher in early trade on September 22 after the state-owned infrastructure consultant said it has received orders worth Rs 100 crore from SAIL. The order covers execution of certain development works at the town and mines of the steel company located in Bhilai of Chattisgarh.
“The company will provide project management consulting on a deposit basis,” it said in the regulatory filing.
This is the fourth order announced by the company this month, with a total value of Rs 450 crore.
At 9:20 am on NSE, NBCC shares were trading at Rs 58.70 per share, up Rs 1.50, or 2.62 per cent. In the results for the April-June quarter, the company reported its operating revenue grew 6.61 per cent year-on-year at Rs 1,918 crore. It reported a profit of 77 crores as against a loss of 5 crores reported in the same period last year. Operating margin for the quarter remained steady at 3%.
NBCC is a state-owned enterprise operating in the field of construction and real estate development. The company specializes in providing project management, consulting and engineering services for civil construction, infrastructure development and real estate projects.