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  5. NBCC shares surge over 14% in a week on multiple order wins, check details

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NBCC shares surge over 14% in a week on multiple order wins, check details

Upstox
By Upstox News Desk

2 min read | Updated on June 18, 2024, 17:19 IST

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SUMMARY

Shares of NBCC (India) Ltd rose nearly 3% after the state-owned company secured a new ₹70 crore contract for interior works from Grid Controller of India Limited. This order boosts NBCC's June 2024 contract total to ₹1,500 crore. The company's shares have gained over 93% year-to-date.

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NBCC shares surge over 14% in a week on multiple order wins, check details

NBCC shares surge over 14% in a week on multiple order wins, check details

NBCC (India) Limited shares gained nearly 3% on Tuesday after the state-owned company announced securing a new order worth ₹70 crore for the planning, design and execution of interior works.
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In a filing to the stock exchanges, the company said that it has received the latest order from Grid Controller of India Limited (Grid-India). The work includes furniture, fitout works, cabling, and other infrastructure tasks at Grand Rue, Ayur Vigyan Nagar, August Kranti Marg in New Delhi.

With this order, NBCC (India) Limited has secured a total of around ₹1,500 crore worth of contracts in June 2024 alone.

Shares of NBCC (India) Ltd gained as much as 2.92% to an intraday high of ₹164.14 apiece on the NSE. The public sector construction firm has rallied more than 14% in the last one week and over 93% so far this year in 2024 (year-to-date).

On June 11, NBCC announced that it has received multiple work orders worth ₹878.17 crore from various entities. It includes the development of 17.4 acres in Ernakulam District, Kochi, for the Bliss City project by Kochi Metro Rail Limited (KMRL) valued at ₹700 crore. Additionally, it secured an order for the construction of a Boys College at Hindu College, University of Delhi, worth ₹69.71 crore. The company also bagged a project for the construction of an Office cum Training Institute for the Institute of Company Secretaries of India (ICSI) in Hyderabad, Telangana, at a cost of ₹8.62 crore, and the construction of Oil India Limited’s centralised core repository in Guwahati, Assam, worth ₹99.84 crore.

The construction firm, on June 5, said that it has secured multiple orders worth ₹491.45 crore from various entities, including the Central Government Health Scheme (CGHS), Department of Social Security and Empowerment of Person with Disabilities, Odisha State Cooperative Bank Ltd, Navodaya Vidyalaya Samiti, Ministry of External Affairs, Union Bank of India, National Internet Exchange of India, India Optel Limited, Pharmacy Council of India, Armoured Vehicles Nigam Limited and Artificial Limbs Manufacturing Corporation of India.

Shares of NBCC (India) Ltd closed at 0.65% lower at ₹158.44 apiece on the NSE.

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Upstox
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