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NBCC gains on signing MoU with Government of Andhra Pradesh

NBCC (India) is currently trading at Rs. 37.50, up by 0.20 points or 0.54% from its previous closing of Rs. 37.30 on the BSE.

The scrip opened at Rs. 37.25 and has touched a high and low of Rs. 38.40 and Rs. 36.40 respectively. So far 920132 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 68.35 on 19-Mar-2019 and a 52 week low of Rs. 28.55 on 23-Aug-2019.

Last one week high and low of the scrip stood at Rs. 41.30 and Rs. 36.40 respectively. The current market cap of the company is Rs. 6768.00 crore.

The promoters holding in the company stood at 65.93%, while Institutions and Non-Institutions held 18.50% and 15.57% respectively.

NBCC (India) has signed a Memorandum of Understanding (MoU) with Government of Andhra Pradesh (AP) at Vijaywada on November 15, 2019.

Under this MoU, Government of Andhra Pradesh has retined NBCC as Project Management Consultancy for monetization of their vacant land parcels across the state and also implementing the Govt of AP Flagship Programmes including infrastructure works across the state utilizing the funds generated out of commercial exploitation of land.

NBCC (India) is one of the few public sector companies engaged in the business of project management consultancy services for civil construction projects (PMC), civil infrastructure for power sector and real estate development.

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