Shares of this small-cap PSU stock surged more than 10 percent on Thursday after the company received a work order from the Steel Authority of India. Year-to-date, the stock has gained more than 50 percent. The company’s stock is trading near its 52-week high price
Related Articles
With a market capitalization of Rs 11,176.20 crores, the stocks of NBCC India Limited, a Public Sector Undertaking (PSU) company, started their trading session on Thursday at Rs 59.80 and currently trades at Rs Rs 62, zooming around 10.20 percent as compared to the previous close of Rs 56.23 apiece.
Such bullish movements were observed in the stock after the company, in a regulatory filing with the Bombay Stock Exchange (BSE) dated 13th September 2023, intimated about a work order worth Rs 180 crores received from the Steel Authority of India Limited (SAIL) for the ‘Bokaro’ Steel Plant.
The order pertains to the consultancy and project management services for infrastructural projects of the plant, mines, township, and collieries.
On a yearly basis, the company has been successful in improving its financial performance with the operating revenues going up from Rs 7,690.61 crores during FY21-22 to Rs 8,754.44 crores during FY22-23. Moreover, the after-tax profits took a shift upwards from Rs 237.93 crores to Rs 278.01 crores keeping the timeframe the same.
According to the shareholding pattern data available for the June 2023 quarter, the President of India, the sole Promoter of the company holds a 61.75 percent stake, and the Foreign Institutional Investors (FIIs) hold a 3.84 percent stake in the company.
NBCC India Limited, engaged in the regional as well as urban development sector, operates through various segments including Project Management Consultancy, water & sewage treatment plants, cooling towers, etc.
Written by Amit Madnani
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
The post Navratna stock jumps more than 10% after receiving an order worth ₹ 180 Cr from SAIL appeared first on Trade Brains.
