NBCC on the surge

With volumes shooting up almost 6.5x, NBCC rose around 14% hit an intraday high at Rs.32.85, not too far from its 15% UC of the day at Rs.33.45.

The stock surged after the Economic Times reported (unconfirmed news) that the company is planning to sell office spaces in Delhi resulting in huge gains.

The report put the gains figure at around Rs.1500 crore and is expected to be sold in current fiscal.

This money will help the company fund its redevelopment project of seven housing colonies in the city.