The shares of NCC ltd, a late Rakesh Jhunjhunwala stock, increased by 0.8 per cent on Friday to close at Rs 69. In a month, the stock has gained more than 22 per cent. However, in the first eight months of 2022, the stock has been very volatile and shed approximately 3.5 per cent.
In Q1FY23, the company earned a total revenue of Rs 3,321 crores, up 61 per cent from Rs 2,064 crores which it earned in the same period a year ago. On a sequential basis, their net profit declined by 4 per cent from Rs 3,477 crores.
In the quarter under review, their net profit stood at Rs 134 crores which is an increase of 153 per cent from Rs 53 crores in Q1FY22. In the previous quarter, the company earned Rs 234 crores.
The market capitalization of the company stood at Rs 4,344 crores and it has a dividend yield of 2.89%. The promoters of the company hold a 21.11 per cent stake in the company and have pledged a 19.05 per cent stake.
Late Big bull Rakesh Jhunjhunwala held 1,00,00,000 shares or a 3.4% stake in NCC with an investment value of Rs 80.9 Crores.
HDFC Securities has given a ‘Buy’ rating on NCC Ltd. with a target price of Rs 108 per share, an upside of 57% for the investors from its current trading price of Rs 68.25.
Set up in 1978 as a partnership firm, NCC Ltd. has come a long way. As of today, NCC is one of the leading construction and infrastructure companies in India. It has a diverse presence in buildings & housing, roads, electricity, railways, and more business segments.
Written by Anoushka Roy
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.
