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NBCC gains after winning order

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National Buildings Construction Corporation rose 3.46% to Rs 833.80 at 9:37 on after the company said it bagged a Rs 1236.88-crore order in under the Pradhan Mantri Gram Sadak Yojana.

The announcement was made after market hours yesterday, 8 January 2015.

Meanwhile, the BSE Sensex was up 156.49 points, or 0.57%, to 27,431.20.

On BSE, so far 70,000 shares were traded in the counter, compared with an average volume of 2.08 lakh shares in the past one quarter.

The stock hit a high of Rs 847.75 and a low of Rs 827 so far during the day. The stock hit a record high of Rs 922.80 on 5 December 2014. The stock hit a 52-week low of Rs 134.15 on 4 March 2014.

The stock had underperformed the market over the past one month till 8 January 2015, sliding 6.07% compared with 3% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 23.26% as against Sensex’s 3.92% rise.

The mid-cap company has an equity capital of Rs 120 crore. Face value per share is Rs 10.

National Buildings Construction Corporation (NBCC) said it has been entrusted Pradhan Mantri Gram Sadak Yojana (PMGSY) works valued at Rs 1236.88 crore in certain IAP (Integrated Action Plan) districts of Odisha and a tripartite agreement in this regard will be signed on 12 January 2015 between Ministry of Rural Development, Government of India, Department of Rural Development, Government of Odisha and NBCC.

On a consolidated basis, net profit of NBCC fell 0.9% to Rs 60.67 crore on 4.2% increase in net sales to Rs 904.29 crore in Q2 September 2014 over Q2 September 2013.

NBCC provides civil engineering construction services. The company’s present arrays of operations are categorized into three main segments — project management consultancy (PMC), real estate development and engineering, procurement and construction (EPC) contracting.

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