Navratna PSU stock in news today on Rs 450-crore order win
Navratna PSU stock in news today on Rs 450-crore order win
Shares of NBCC India are in news today after the govt-owned civil construction firm said it has bagged contracts worth Rs 450 crore in Chhattisgarh and Kerala. NBCC India is into project management consultancy and real estate business. NBCC said it has received Rs 450 worth of contracts from Court Receiver of the Supreme Court of India.
NBCC won a Rs 250 crore worth contract in Amrapali Vananchal City, Bhilai District, Chhattisgarh.
It also won a Rs 150 crore worth contract in Amrapali Cosmos, Aluva, Ernakulam District, Kerala.
The Navratna PSU stock ended 5.72% higher at Rs 135.85 on Wednesday. Shares of NBCC have zoomed 224.77% in a year and gained 66.10% in 2024. Market cap of the firm rose to Rs 24,453 crore. Total 11.14 lakh shares of the firm changed hands amounting to a turnover of Rs 15 crore on Wednesday.
However, the multibagger stock is down 12% in the last three months.
The stock saw a high volatility with a beta of 1.2 in the last one year.
In terms of technicals, the relative strength index (RSI) of the NBCC stock stands at 55, signaling it’s trading neither in the overbought nor in the oversold zone. NBCC shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day, 150 day, 200 day moving averages.
NBCC (India) Limited provides value added services. The company operates through three segments: Project Management Consultancy (PMC), Real Estate Development, and Engineering Procurement and Construction (EPC). PMC segment is engaged in civil construction projects, infrastructure works for the national security, infrastructure projects for the civil sector, and project implementation for Pradhan Mantri Gram Sadak Yojna (PMGSY) and developmental work in Northeastern Region.
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