Shares of NBCC (India) climbed 2.5 percent on September 23 following the company’s announcement of a Rs 1,261 crore order win from the Ministry of Health and Family Welfare. The contract is for establishing the All India Institute of Medical Sciences (AIIMS) in Darbhanga, Bihar.
At 1:31 pm, NBCC shares were trading at Rs 177.50 on the NSE. Over the past year, the stock has delivered an impressive 118 percent return, classifying it as a multibagger.
Earlier this month, NBCC’s board approved a bonus issue of one share for every two held, with a record date set for October 7. In anticipation of the bonus issue, the stock had surged over 10 percent but has since experienced some profit booking.
The order book of NBCC remains decent. In August, its subsidiary HSCC bagged a contract worth Rs 528.21 crore from the Directorate of Medical Education & Research, Haryana, for procurement of biomedical equipment and hospital furniture. The company received an order while for an estimated amount of Rs 15,000 crore from the Srinagar Development Authority for developing a Satellite Township in Bemina, Srinagar.
For June quarter, NBCC said net profit was up 39% yearover-year at Rs 104.62 crore.
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Source: Moneycontrol
News Desk
