NBCC spurts up over 4%

National Buildings Construction Corporation (NBCC) is on pretty good run today morning. The stock opened Rs.8 higher at Rs.796, going to an intra day high of Rs.830 and is currently at Rs.819, up 4%. Its 52-week high stands at Rs.1087.

The stock is in the limelight after the company stated that a project specific MoU has been executed with NAWADCO for the development of four properties.

In the issued Press statement, the company has stated that the four properties are – three in Bangalore - Gulistan Shadi Mahal, Masjid-e-Mavalli, Dargah Hazrat Attaullah Shah and Takiya Chand Shah in Jodhpur. The total project for all the four is valued at Rs.398 crore. The project is in compliance of the general MOU signed between the company and NAWADCO on 8 September 2014 for the development of various properties of WAQF Board.