This construction company’s stock rose 3.51 percent after the company received 3 orders worth Rs. 4205 crore in the month of September 2023.
At 3.10, 3rd October shares of NCC Ltd were trading at Rs. 160.5 per share, up by 3.51 percent from previous closing price of Rs. 155.05 per share.
Such bullish stock price movement is observed after the company announced in the filing through Bombay stock exchange (BSE) that they have received 3 orders worth Rs. 4205 crore. Out of them, one order worth Rs. 819.20 crore is related to water division, another order worth Rs. 173.19 crore is related to electrical division and third order worth Rs. 3213.55 crore is related to transportation division.
The order valuing Rs. 3213.55 crores is the 51 percent share of NCC out of 6301.08 crores order received by J kumar-NCC joint venture from Brihanmumbai municipal corporation which was already disclosed on 22.09.2023
Looking at the financial statements, company’s revenue in increased by 31.89 percent to Rs. 4380.39 crores in Q1FY24 from Rs. 3321.35 crores in Q1FY23, in the same time period company’s net profit also increased by 33.86 percent to Rs. 173 crores from Rs. 129.64 crores.
Talking about the financial ratios, the company reported return on equity (ROE) of 11.01 percent and return on capital employed (ROCE) of 19.94 percent.
NCC Ltd formerly known as Nagarjuna Construction Co Ltd is a construction company and is involved in construction of flyovers, highways, airport terminals, commercial buildings, water supply and environment projects etc.
Written by Vinit Israni
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