The shares of this Navratna PSU stock involved in the execution of diversified projects jumped up to 4 percent on Wednesday after making sales of Rs 2,353 crores in Greater Noida.
Price Action
With a market capitalization of Rs 22,210.20 crore, NBCC (India) Ltd saw a 4 percent increase on Wednesday’s trading session to an intraday high of
Rs 83.14 per share compared to its previous closing price of Rs 79.77 per share. The stock retraced from its day’s high and was trading at Rs 82.26 which is 3 percent higher than the previous closing price.
What Happened
In an exchange filing on Wednesday, the company announced that NBCC sold 1,046 residential units at Aspire Centurian Park in Greater Noida (W), U.P through an e-auction. The total sale value stands at approximately Rs. 2,353 crores. Notably, NBCC will get a marketing fee at 1 percent of the total sale value.
Company Overview
NBCC, which was previously known as the National Buildings Construction Corporation, is a public sector undertaking (PSU) under the Ministry of Housing and Urban Affairs, with the Government of India holding a 61.75 percent stake. The company currently operates in Project Management Consultancy (PMC), Real Estate Development, and EPC Contracting.
With an order book exceeding Rs 84,400 crore, NBCC stands out as the only Central Public Sector Enterprise (CPSE) involved in real estate. The company has been responsible for numerous landmark projects as a PMC, which accounts for approximately 90 percent of its annual revenue.
Written by Shwetha Sairam
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