NBCC bags order worth Rs. 2,000 crore
Construction and civil engineering PSU NBCC (India) bagged an order worth Rs. 2,000 crore from the government of Assam for the construction of Twin Tower Trade Center at Guwahati.
The company is expecting an order inflow of Rs. 25,000 crore in FY18E. The company’s order book comprised of about 90 per cent of PMC and redevelopment projects and 10 per cent of real estate and EPC projects as of Q2FY18. It is expected to largely benefit from the government’s inclination towards infrastructure development including Housing For All, AMRUT and Smart Cities, amongst others.
The company had posted a hike of 31.4 per cent in its profit after tax to Rs. 81.2 crore in the second quarter of the financial year 2018. The company had a debt-free balance sheet as of the corresponding quarter of fiscal year 2018. Its cash reserve stood at Rs. 2,393 crore as of Q2FY18.
However, the company traded in negative territory on Monday. It posted an intraday low of Rs. 200.90 per share and an intraday high of Rs. 217 per share during the intraday trade on Monday on BSE. At 10:39 hours IST, the stock was trading at Rs. 210.65 per share, lower by 3.97 per cent on BSE. Meanwhile, S&P BSE Sensex was trading at 34,705.68 level, lower by 1.03 per cent and NSE Nifty50 was trading at 10,653.65 level, lower by 0.99 per cent.