After big work, Navratna shares increased to Rs 15,000 crore
Business Business: Shares of Navratna-based NBCC (India) Limited have seen a strong rally. On Friday, NBCC shares rose more than 11 per cent to Rs 188.50. Such a sharp rise in the company’s shares is due to receiving a big order. NBCC has received a big order of Rs 15,000 crore. The company has received this contract from the Srinagar Development Authority. On Thursday, NBCC shares closed at Rs 168.90.
NBCC (India) Limited will build a satellite village spread over 406 acres at Rakh-e-Gund Aqsha in Bemina, Srinagar. The size of this order is almost half of NBCC’s market capitalization of Rs 33,000 crore. The project will be implemented in phases over 5 years and includes residential plots, villas, apartments, commercial offices, indoor sports centers and a 5-star resort with all modern amenities. In June this year, a contract worth Rs 70 crore was awarded to construction company Grid Controller of India Limited.
Shares of NBCC (India) Limited are up 280% over the past year. On August 9, 2023, the company’s shares were priced at Rs 48.85. On August 9, 2024, NBCC shares reached Rs 188.50. NBCC shares have climbed over 130% this year. Earlier this year, the Navratna shares were priced at Rs 81.79 on January 1, 2024. On August 9, 2024, the company’s shares reached Rs 188.50. In the last two years, the state-owned construction company’s shares have gained over 435% in price. The company’s stock has a 52-week high of Rs 198.25. At the same time, the stock’s 52-week low is Rs 46.61.
