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NBCC shares Rally 10% on Rs 180 Crore Order From SAIL

The company has secured an order from SAIL worth Rs 180 crore.

NBCC India shares rallied 10% and reached an intraday high of Rs 63.50 on 14 September after the company signed a quadripartite MoU with Ministry Of Steel, RINL & NLMC and received an order worth Rs 180 crore from SAIL.

The company has secured an order from SAIL worth Rs 180 crore for consultancy and project management services for its upcoming infrastructure projects of Bokaro Steel Ltd plant, mines, township, and collieries.

The company also signed a quadripartite MoU (memorandum of understanding) with the Ministry of Steel, the government of India, National Land Monetization Corp Ltd, and Rashtriya Ispat Nigam Limited for the monetisation of the non-core assets of Rashtriya Ispat Nigam Limited at Visakhapatnam.

As per the MoU, the company will act as a transaction cum technical advisor and will assist the Ministry of Steel, Rashtriya Ispat Nigam Limited, and National Land Monetization Corp Ltd in monetising the non-core assets.

Earlier this month, the company secured an order from Kerala State Housing Board worth Rs 2,000 crore to develop 17.9 acres of land parcel at Kochi’s Marine Drive.

At 1:00 pm, the shares of NBCC India were trading at Rs 61.05 or 8.44% above its previous close on NSE.

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