This Navratna stock gained around 2.6 percent to Rs 68.77 per share on Monday after the company signed a Memorandum of Understanding with the Institute of Chartered Accountants of India (ICAI) to undertake various projects. 

At 12:40 p.m., NBCC (India) Ltd shares were trading at Rs 67.30 per share, up 0.37 percent from the previous close price. The company has a market capitalization of Rs 12,132 crore. 

NBCC (India) Limited has entered into a Memorandum of Understanding with the Institute of Chartered Accountants of India (ICAI). 

In contrast, the ICAI has agreed to award the work relating to “Planning, Designing, and Execution of ICAI’s Buildings & Renovation Works at Various Locations in India” on a turnkey basis on the terms and conditions specified, The information was disclosed in the company’s Exchange filing. 

NBCC shares have gained 68 percent in the last six months and 81 percent in a year. 

The Company’s return on equity increased from 12.68 percent in FY22 to 13.71 percent in FY23, while the return on capital employed rose from 16.51 percent to 21.12 percent during the same period. 

In the recent shareholding pattern, the company promoter holds a 61.75 percent stake in the company, domestic institutional investors hold a 10.23 percent stake and retail investors hold a 23.87 percent stake in the company. 

The company’s revenue has marginally increased by 1 percent year on year, from Rs 2,029 crore in Q2FY23 to Rs 2,053 crore in Q2FY24.In the same time frame, net profit has decreased by 60 percent from Rs 97 crore to Rs 81 crore. 

NBCC (India) Limited is a Government of India Navratna Enterprise under the Ministry of Housing and Urban Affairs. The Company operates in three major segments – Project Management Consultancy, Engineering Procurement and construction, and Real Estate. 

Written by Omkar Chitnis