NBCC (India) Stock Rebounds After Bagging ₹3,700 Crore Order In Rajasthan

NBCC was the top trending stock on Stocktwits

Shares of NBCC (India) reversed early losses to gain nearly 1.5% on Monday, after securing an order worth ₹3,700 from the state government of Rajasthan.

At the time of writing, NBCC shares were up 0.7% at ₹104.4.

According to an official press release, NBCC has been appointed as the lead agency for a major development project in Rajasthan. The initiative involves the design, construction, and marketing of a range of high-profile facilities, including the Rajasthan Mandapam Convention Centre, a Global Capability Centre (GCC) Tower, an IT Tower, luxury hotels, and new commercial and residential infrastructure.

The project will be developed across 95 acres of land owned by the Rajasthan State Industrial Development & Investment Corporation (RIICO), with an estimated investment of around ₹3,700 crore.

Stock watch

At the time of writing, NBCC (India) was the top trending stock on Stocktwits. However, retail sentiment for NBCC remained ‘bearish’ on the platform, dipping from ‘bullish’ a week back.

According to information on BSE, the stock is expected to trade ex-dividend later this week on Aug. 29.

The company reported robust earnings for the June quarter, with consolidated net profit rising by over 26% to ₹132 crore, while revenue from operations increased by 11.6% to ₹2,391 crore. It had declared an interim dividend of ₹0.21 per share.

NBCC shares have gained over 12% so far this year.

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