Shares of NCC Ltd. surged 3% on Friday to reach an intraday high of ₹ 126.50 apiece from the previous close price of ₹123. In the last three trading sessions, the company’s shares have raised 9 percent from around ₹115 apiece level to ₹ 125.15 level.
This remarkable increase in share price happened after the company obtained new orders from the state government.
According to BSE filing, the company received new orders totaling ₹ 2,088 crores in May 2023. The Construction Division has signed agreements for orders worth ₹ 1,668 crores, while the Water Division has acquired an order of ₹ 420 crores. These orders have been received from State Government Agencies.
At 12:45 pm, the stock was trading at ₹125.70 on the NSE, up 2.20 percent from its previous close.
As of March FY23, Ace investor Rekha Jhunjhunwala holds 7,05,80,932 shares or 11.24 percent.
Nagarjuna Construction Company (NCC) Limited was established in 1978. The Company is involved in infrastructure development operations such as building industrial and commercial buildings, highways, bridges, power transmission lines, and hydrothermal power projects. The firm has operations in Oman and the United Arab Emirates.
The Company had 32 subsidiaries as of March 31, 2023. The subsidiaries are involved in infrastructure development, real estate, urban infrastructure development, and electricity generation.
According to consolidated financials, the company’s sales increased by 29 percent from ₹ 3,849 crores in Q3 to ₹ 4,949 crores in Q4. Similarly, the company’s net earnings climbed from ₹ 166 crore to ₹ 197 crore throughout the same time.
On a year-on-year basis, revenues climbed marginally from ₹ 11,137 crores in FY 21-22 to ₹ 15,493 crores in FY 22-23. For the same time period, The company’s PAT has increased by 29 percent, from ₹ 492 crores to ₹ 635 crores, and it now has a market capitalization of ₹ 7,904 crores.
In the past year, the stock has jumped around 97.01 percent, ranging from ₹ 63.60 to the current price levels.
According to the latest shareholding data, promoters of the company hold a 22 percent stake, and foreign institutional investor holds(FIIs) hold a 19.96 percent stake in the company for FY 22-23.
Written By Omkar C
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.
