Navratna Stock Soars After New Order, 600% Return in 5 Years

Business

A Navratna company’s share, priced at ₹100, surged after securing a fresh order, having already delivered 600% returns over the past five years.

Shares of NBCC India, a government company involved in the construction and real estate sector, jumped by 6% intraday. NBCC (India) received several work orders worth approximately ₹117 crore from HUDCO. NBCC (India) shares opened at ₹111.20 in the morning and reached a high of ₹117.20.

The stock market is trading with a decline on September 22nd, but amid this downturn, the shares of a Navaratna government company are showing a significant rise. In fact, NBCC (India) shares (NBCC Share Prices) have risen by more than 6%. This sharp rise in the shares of this government company involved in the construction and real estate sector is due to some news. NBCC (India) has received several work orders worth approximately ₹117 crore from the Housing and Urban Development Corporation (HUDCO). Following this, the shares of both companies are seeing a significant rise.

NBCC (India) shares opened at ₹111.20 in the morning and touched a high of ₹117.20. Currently, the state-owned company's stock is trading at ₹117.01, up 6%. NBCC shares have delivered multi-bagger returns of 600% over the past five years.

What is the MoU between NBCC and HUDCO?

Under the terms of the MoU, NBCC will undertake four infrastructure and development projects in various cities. These include the development of a commercial plot in Kaushambi, Ghaziabad, Uttar Pradesh (₹23.08 crore), the development of a HUDCO-owned plot in Panchkula, Haryana (₹26.92 crore), the construction of additional blocks at HUDCO's regional office in Ahmedabad, Gujarat (₹63.36 crore), and the renovation of flats in the Asian Games Village complex in New Delhi (₹3.65 crore).

The total estimated value of these projects is ₹117 crore. NBCC (India) operates in three key sectors: project management consultancy, real estate, and engineering.

Recently secured a major order worth ₹3,700 crore.
Earlier, NBCC's shares saw a surge after it secured a key infrastructure development project near Jaipur International Airport. This project in Jaipur is valued at approximately ₹3,700 crore and is targeted to be completed within 30 months after receiving statutory and internal approvals.