Today, government company NBCC witnessed a robust rally, with its shares surging by up to 13%. As of the latest trading data, the stock is priced at Rs 61.15, representing an impressive gain of 8.61%. Notably, this surge propelled the stock to its 52-week high of Rs 63.5. The driving force behind this remarkable performance is NBCC’s recent order worth Rs 180 crore from SAIL Limited.
Deal in Focus
NBCC inked a pivotal agreement with the Ministry of Steel (MoS), Government of India, Rashtriya Ispat Nigam Limited (RINL), and National Land Monetization Corporation Limited (NLMC). This agreement pertains to the monetization of non-core assets owned by RINL in Visakhapatnam. Under the terms of the agreement, NBCC assumes the role of a technical cum transaction advisor, offering assistance to MoS, RINL, and NLMC in the process of monetizing these non-core assets.
Rs 180 Crore Order from SAIL
The company’s substantial order from SAIL encompasses consultancy and project management services for upcoming infrastructure projects related to Bokaro Steel Plant, Township, Mines, and Colliery. This lucrative contract has sparked significant investor interest and contributed to NBCC’s stock surge.
Recent Contract Wins
In addition to this recent achievement, NBCC had previously secured a notable Rs 2,000 crore order from the Kerala State Housing Board for the development of a 17.9-acre land parcel in Kochi’s Marine Drive. Furthermore, in August, the company had clinched a Rs 66.32 crore order from the Indian Medical Association for the planning, design, and execution of IMA House in Indraprastha, New Delhi. These successful contracts underline NBCC’s growing prominence in the construction and infrastructure sector.
