NBCC shares trade higher on Rs 100 crore work order from SAIL
NBCC shares were trading 3 percent higher in early trade on September 22 after the state-owned infra consultant announced having bagged a work order worth Rs 100 crore from SAIL. The order entails carrying out several developmental works in the steel company’s township and mines located in Chattisgarh’s Bhilai.
This is the fourth order-win announced by the company in this month, the total value of the same being Rs 450 crore.
The NBCC stock was quoting at Rs 58.70 apiece, up Rs 1.50, or 2.62 percent, at 9.20 am on the NSE.
In its results for the April-June quarter, the company reported an 6.61 percent YoY increase in revenue from operations at Rs 1,918 crore. It reported a profit of 77 crore against a loss of 5 crore reported in the same period last year. The operating profit margins for the quarter remained flat on a yearly basis at 3 percent.
NBCC is a public sector undertaking engaged in the business of construction and real estate development. The company specializes in providing project management, consultancy and engineering services for civil construction, infrastructure development, and real estate projects.
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