This small cap stock gained 4% in the morning of Friday’s trading session after receiving orders worth Rs. 8,398 crore from the various state electricity distributors.
Share prices of NCC opened at Rs. 174.90 per piece and surged 4% to reach its 52- week high of Rs. 176.60 per share. The stock has given a multibagger return of 128.26% and 401.03% in the last one and three years.
According to an exchange filing surfaced on 1st September 2023 by the company informs about four new orders worth Rs. 8398 crore.
The first two orders were received from the Maharashtra State Electricity Distribution Co Limited for Rs. 2,822 crore and Rs. 2,933 crore relating to the Advanced Metering Infrastructure Project to be executed on Design, Build, Finonce, Own, Operote, Transfer (DBFOOT) basis under RDSS Scheme. These orders are to be executed within 9 years 3 months through Special Purpose Vehicles (SPVs).
The third order was received from North Bihar Power Distribution Co Limited for the Advanced Metering Infrastructure Project to be executed on Design, Build, Finonce, Own, Operote, Transfer (DBFOOT) basis. This order is to be executed within 9 years 3 months by the company itself.
The last order was received from Bangalore Electricity Supply Co Limited for upgradation of Distribution Automation System which is to be completed within 18 months.
Orders worth Rs. 5755 crore will go into the subsidiary companies and the balance of Rs. 2643 crore will go into the NCC Standalone order book.
As per its latest financial statement, total revenue of Rs. 4949.03 crore in Q42023 is reduced by 11.49% to Rs. 4380 crore in Q1FY24. Its net profit which was Rs. 190.86 crore in Q4FY23 decreased by 9.07% to Rs. 173.54 crore in Q1FY24.
Nagarjuna Construction Company (NCC) Limited is a construction company which operates its business through two of its subsidiaries namely NCC Infra and NCC Urban. The company works on various projects which deal with building residential and public properties, roads, civil structures, and many more. It also facilitates industrial solutions.
Written by Bhumika Khandelwal
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