Shares of NCC Ltd surged 1.75% to touch a day’s high of Rs 179.35 on 26th November. This occurred after the firm said on Tuesday (25th November) that it has received a letter of acceptance from the Public Works (Health & Education) Department, Assam. This was for the expansion and modernisation of Gauhati Medical College & Hospital in Guwahati.

The company said a domestic entity was awarded the order. It includes a full range of work to upgrade the medical college and hospital. The contract is valued at Rs 2,062.71 crore, excluding GST.

The project will take 42 months to complete. First, six months for demolition, planning, design and engineering, followed by 36 months of construction. It also includes five years of operations and maintenance for civil works and related services.

NCC added that the order falls under the general contract conditions for the project. It confirmed that neither promoters nor group companies have any interest in the awarding entity.

NCC Second Quarter Results

Revenue for the quarter fell 12.6% year-over-year to Rs 4,543 crore. EBITDA dropped 11.5% to Rs 394 crore. The EBITDA margin improved slightly to 8.7% from 8.5% a year ago. Net profit stood at Rs 155 crore, down 5% from last year’s Rs 163 crore.

At 10:57 AM, shares of NCC Ltd were trading 1.69% higher at Rs 176.15 on NSE.

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