NBCC (India) Secures Rs 500 Crore Contract from Puducherry, Stocks Surge 3%

NBCC (India) secures Rs 500 crore order in Puducherry.

NBCC (India) saw a share boost of over 3% on March 15 following announcing the company’s successful bid for a work order from the Puducherry government worth Rs 500 crore.

NBCC (India) was awarded orders in Himachal Pradesh, Jammu & Kashmir, Andhra Pradesh and Odisha earlier this month worth Rs 770.83 crore.

The recent work order is for constructing a government medical college and hospital in Karaikal, Puducherry. NBCC (India) disclosed in an exchange filing that the nature of the contract is project management consultant (PMC) on a deposit work basis. This win will increase the company’s order book, which was Rs 54,600 crore as of February 24.

Per the live market data, the stock has surged by 37.66% from its 52-week low of Rs 26.6, registered on June 17, 2022. The stock had a weekly average delivery volume of 28.73% and hit an intraday high of Rs 37.20 and a low of Rs 36.35. While it recorded gains of over 6% in the past month, it has declined 11.3% in the last three months and fell 6.4% in the past year, underperforming its sector by 24.5%.

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