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NBCC shares rise on order worth Rs 1,261 crore from Bihar’s Health Ministry
Source: Business Standard
NBCC share price moved up by 2.52 per cent at Rs 178.50 per share on the BSE in Monday’s intraday deals. The state owned civil construction company’s stock price jumped after the company’s subsidiary HSCC bagged a work order worth Rs 1,261 crore.
The company received the order from Bihar Ministry of Health and Family Welfare for Establishment work of AIIMS in Darbhanga, the company said in an exchange filing on Monday.
Earlier this month, the company inked a memorandum of understanding (MoU) with MTNL for a project worth Rs 1,600 crore.
Under the terms of the agreement, the companies are collaborating to develop a significant land parcel of approximately 13.88 acres owned by MTNL, located on Pankha Road in New Delhi. The project is valued at Rs 1,600 crore.
Financially, state-owned NBCC reported a 38 per cent increase in its consolidated net profit, reaching Rs 107.2 crore for the first quarter of the fiscal year 2025 (Q1 FY25), compared to Rs 77.4 crore in the same quarter last year (Q1 FY24). The company’s total income surged to Rs 2,197.8 crore in the April-June period, up from Rs 1,974 crore during the corresponding period of the previous year.
NBCC is a construction firm that offers a wide range of services, including project management consultancy, real estate development, engineering procurement, construction, civil engineering, and redevelopment. Additionally, the company provides water treatment plants, water supply networks, and solid waste management solutions.
Tha market capitalisation of NBCC is Rs 31,941 crore, according to Bombay Stock Exchange (BSE). Its shares are trading at a price to earnings multiple of 85.19 times with an earning per share of Rs 2.04. The 52-week high of the company’s share is Rs 209.75 while its 52-week low is Rs 56.71 a piece.
At 1:44 PM, NBCC shares were trading 1.87 higher at Rs 177.35. In comparison, the BSE Sensex was trading 0.29 per cent higher at 84,792 levels.
First Published: Sep 23 2024 | 1:52 PM IST
