State-owned NBCC shares on Wednesday surged 4.64% to Rs 101.35 per share on Bombay Stock Exchange (BSE). NBCC (India) Ltd bagged 3 orders already in the month of November worth Rs 800 crore. NBCC offered multibagger returns to shareholders in 1-year with gain of 125% and declined 10% in last 1-month. The company’s market capitalisation stood at Rs 27,364.50 crore. NBCC (India) Ltd has been recommended buy call with targt price of Rs 112 in near term. The company will declare its financial results on November 13, 2024. FII/FPI have decreased holdings from 4.43% to 4.11% in Sep 2024 qtr Number of FII/FPI investors increased from 155 to 173 in Sep 2024 qtr. Life insurance corporation of India (LIC) has a stake of 5.11% as the PSU insurer holds 137,911,863 shares of NBCC.

The company so far recommended 2 bonus shares and sub-divided the face value of its shares twice so far. The company announced 15 dividends since 2012. In last 1-year, NBCC recommended Re 0.63 per share dividend. Details below:

Buy Call:

According to A R Ramachandran, Independent SEBI Research Analyst, “NBCC stock price is bullish on the Daily charts with strong support at 96.8. A Daily close above resistance of 103 could lead to a target of 112 in the near term.”

NBCC To Consider Financial Results:

As per the exchange filing of the Navratna PSU dated October 28, 2024, “pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that meeting of Board of Directors of the Company would be held on Wednesday, November 13, 2024 to inter-alia consider the following:

1. Approve the unaudited Financial Results (Standalone and Consolidated) for the quarter and half-year ended September 30, 2024.”

NBCC Wins Orders:

As per the exchange filing of NBCC dated November 5, 2024, “This is to inform that NBCC (India) limited has been awarded work order amounting Rs. 500 crore approx. from Bureau of Indian Standards (BIS).”

The company on November 4, 2024 informed its subsidiary Hindustan Steelworks Construction Limited (HSCL) received work orders worth Rs 65 crore in normal course of business. The company on November 1 received work orders worth Rs. 235.46 Crore (Approx.) in normal course of business.

NBCC (India) Shares Performance:

NBCC (India) shares gained 7.19% in last 2-weeks and jumped 85% in 2024. In last 2-years, NBCC stock zoomed 348%. 52-week high price of the stock on BSE is Rs 139.90 per share (as on 28/08/2024) and 52-week low price is Rs 42.55 per share (as on 28/11/2023).

NBCC (India) Shareholding:

FII/FPI have decreased holdings from 4.43% to 4.11% in September 2024 quarter. Number of FII/FPI investors surged from 155 to 173 in September 2024 quarter. Mutual Funds have increased holdings from 3.04% to 3.45% in September 2024 quarter. Number of MF schemes zoomed from 13 to 18 in September 2024 quarter. Institutional Investors reduced holdings from 13.91% to 13.21% in September 2024 quarter, according to Trendlyne.

About:

It came into existence in 1960 as a Government of India Civil Engineering Enterprise, NBCC with its Headquarter in Delhi, today, holds the status of Navratna CPSE, and has emerged as the undisputed leader in the Construction Sector on the back of its capabilities, innovative approach, adherence to highest standard of quality, timely delivery and a dedicated workforce.

Disclaimer:

The stock has been picked from the brokerage report of A R Ramachandran. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.

Story first published: Wednesday, November 6, 2024, 16:41 [IST]