NCC builds up

NCC is among the top gainers on the BSE currently; opening over 4% higher at Rs.61 and went on to hit an intraday high at Rs.64.45, up over 10%.

The company, along with other shareholders of NCC Vizag Urban Infrastructure (NCCVUL) , which is a subsidiary company, entered into a share purchase agreement with GRPL Housing Private Limited (Gardencity Realty Group, Bengaluru).

This is to sell and transfer their entire shareholding in NCCVUL to the acquirer, subject to obtaining all applicable regulatory approvals.

The total consideration is Rs.199.50 crore and will be paid in four installments.