NBCC rises 6%

NBCC (India), formerly known as National Buildings Construction Corporation, a PSU under the Indian Ministry of Housing and Urban Affairs is in the limelight today after receipt of another new order.

This is for construction of border and road in Mizoram along Indo-Bangladesh border and value of the order is Rs.448 crore.

Prior to this, the company had won another order worth Rs.46 crore from the Ghani Khan Choudhary Institute of Engineering and Technology in Malda, West Bengal.

There was another Rs 100-crore contract from Sidbi.

A few days ago, the company also managed to e-auction sale of its commercial built-up space at world Trade Centre, New Delhi. In the latest e-auction four buyers had participated and were successful in purchase of approx. 1.05 lakhs sft Built up area (BUA) amounting to Rs. 415 crore.

Till date, NBCC has managed to sell off a total area of 15.49 lakhs sft BUA, amounting to Rs. 6,252 crore.

The stock is on the uptick, rising 6% to an intraday high at Rs.37.75 and remains strongly around the same levels. Its 52-week high stands at Rs.43.80.