21-Feb-2024
2 mins read
NBCC Limited, a state-owned construction firm, informed investors about its recent orders on Monday, February 20, 2024, in an exchange filing. The company secured orders worth Rs 331.9 crore from Rani Lakshmi Bai Central Agricultural University in Uttar Pradesh, Jhansi, District for upcoming infrastructure work.
The order worth Rs 12.2 crore is from the High Court for Telangana for the construction of a single court complex and residential quarter in Adilabad district.
Also, NBCC Limited secured an order for the renovation and furnishing project of the Institute of Chartered Accountants of India Bhawan in Noida, valued at Rs 24.98 crore.
Previously, on January 15, 2024, the company said it had bagged an order for a Rs 262 crore project to redevelop Ministry of External Affairs housing in the national capital.
NBCC said the “Bhoomi Poojan Ceremony” for the redevelopment of the Ministry of External Affairs Housing at KG Marg took place on February 14, 2024.
NBCC Share Price Update
After bagging many big orders from the Government, NBCC’s share price was positively impacted and rewarded investors in the short run. In January 2024, NBCC’s stock price registered a gain of 58.74%.
At the beginning of February, NBCC’s share price continued the positive momentum and hit a time of Rs 176.85. Later, the price showed a minor correction and retraced back to the 20-day EMA. After the recent update regarding new offers, NBCC stock is regaining positive momentum and rose 8% in the last session.
NBCC Q3 FY24 Results Update
The company’s financials are on the improvement path, which positively impacts the sentiment of investors. In Q3 FY24, the company reported a net profit of Rs 113.56 crore. In the same period last year, the company reported Rs 71.49 crore.