Over the past two weeks, NBCC Limited has secured new orders worth INR 1500 crore. NBCC Ltd. is a prominent state-run construction company. NBCC’s growing presence in the construction and infrastructure sectors can be seen by this surge in its share prices.
Recent Orders
On June 5, 2024, NBCC announced that it has received orders worth INR 491.45 crore from various clients including the Central Government Health Scheme (CGHS), Odisha State Cooperative Bank (OSCB) and many others.
On June 11, 2024, just 6 days later, NBCC received another order of INR 878.17 crore. These were received from entities like Kochi Metro Rail Limited and Oil India. The order from Kochi Metro Limited alone was valued at INR 700 crore.
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Details of the Latest Order
Most recently, NBCC secured an order worth INR 70 crore from the Grid Controller of India Limited. The scope of work involves comprehensive interior design and execution for the establishment of GRID-INDIA in New Delhi. This contract underscores NBCC’s expertise in executing complex infrastructure projects.
Market Analysts’ Perspectives
Despite receiving new orders, NBCC’s stock has garnered mixed reviews from market analysts. Out of five analysts who have covered NBCC, three of them have issued a “sell” rating, one has recommended “buy” and one has issued a “hold” rating. According to many chart analysts, NBCC could face a plunge of 37% based on the current market conditions.
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Stock Performance and Outlook
Shares of NBCC Limited have shown impressive performance in the recent years. Alone in 2024, they nearly doubled their value with a 97% rise. In 2023, there was a 110% increase in its share prices. Since 2014, this marked its best annual performance. As of June 18, 2024, NBCC Ltd.’s shares are trading at INR 160.8 as they are approaching their record high of INR 176.85 earlier this year.
About the Author
Mr. Radhesh Tarang Shah, is a third-year management student at Institute of Management, Nirma University. He has a passion for writing articles and poems. He has experience as a financial analyst, author, news writer, marketer and social worker.
