The shares of this Navratna PSU stock involved in the execution of diversified projects came into focus on Wednesday after receiving multiple hydro projects from the Mizoram Government.
Price Action
With a market capitalization of Rs 23,093.10 crore, NBCC (India) Ltd saw a 2 percent increase on Wednesday’s trading session to an intraday high of Rs 87.04 per share compared to its previous closing price of Rs 85.33 per share.
The stock retraced from its day’s low and was trading at Rs 85.53 which is 0.2 percent higher than the previous closing price.
What Happened
NBCC (India) Limited has recently been awarded several projects by the Government of Mizoram’s Department of Irrigation & Water Resources. These projects involve the planning, design, and implementation of three hydro initiatives. The first project focuses on constructing a sustainable dam on the Mat River in Serchhip to enhance water security and support community development.
Additionally, a multipurpose rainwater harvesting dam will be built at Ngur-Vapar in Champhai District. Lastly, a dual mini-dam project is set to be developed at Vantawng, Thenzawl, with the goal of turning waterfalls into valuable economic and ecological resources.
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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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