NBCC in the limelight

National Buildings Construction Corporation (NBCC) is currently in the limelight. The stock is up over 4% at Rs.919 with an intra day high and low of Rs.933.90 and Rs.888 respectively. Its 52-week high is at Rs.1087.

The stock is buzzing today after the company announced today that DDA has entrusted NBCC the project for Development of Lake View Complex, based on Transit Oriented Development (TOD) norms on 25 acres DDA land at Trilokpuri, Delhi. The estimated cost of construction will be approx. Rs 1500 crore. NBCC will be doing project management consultancy, marketing & sales of the said project.

NBCC is a PSU, that too a Navratna, working in the construction sector. As at 31st March 2015, the Government of India held a 90% stake.