NBCC hits a new high

NBCC India hit a new 52-week high today at Rs.299.20, just a tad shy of crossing the Rs.300 threshold.

The PSU announced yesterday after market hours that it had secured orders worth about Rs 1117.34 crore in September 2016. Obviously the market is thrilled with the robust order book.

This includes the Rs. 440 crore order from ESIC, Ministry of Labour & Employment, Government of India for construction of 100 bedded hospital(s) at Haridwar & Dehradun (Uttarakhand) and 300 bedded hospital at Indore, Madhya Pradesh. It had also secured work amounting Rs. 270 crore from UGC. The others, to complete the Rs.1117.34 crore tally must be spill overs from previous months.

The Govt of India holds 90% stake in the company and it had ended Q1FY17 with a 16% (YoY) jump in consolidated net profit at Rs.47 crore on a 15% increase in net sales at Rs.1254 crore.