NBCC share price: Buy, Sell or Hold? What expert said

By News Update On Dec 28, 2024

New Delhi: NBCC shares are in focus on Friday, December 27 after the state-owned company received a Rs 300-crore work order in Varanasi and a Rs 44-crore contract at AIIMS Gorakhpur. Stock Market expert Arun Mantri recommended no fresh buying of NBCC stock.

Giving his views on NBCC share price, Mantri said, “NBCC shares have corrected more than 6 per cent in the month of December and is currently trading around weekly support of Rs 89-90 where a gap is also placed on the daily charts. The short term trend of the counter is weak with strong support placed around Rs 89 levels.” Traders may hold on to the stock with strict Stop Loss placed below Rs 89 for the near term period, expert added.

The state-owned NBCC is in news after it confirmed to bag a Rs 300-crore contract to develop a commercial complex in Varanasi, Uttar Pradesh. In a regulatory filing, stated it has received a Rs 300-crore order for “development of Jawaharlal Nehru Commercial Complex (JLNCC), Englishya Lines, Varanasi on self-sustainable model”. The order was awarded to NBCC by the Varanasi Development Authority.

NBCC also secured a deal to construct Mehta Family School of Data Science and Artificial Intelligence at IIT Roorkee, Uttarakhand. The order worth Rs Rs 24.38 crore also included installation and development works of internal EI, HVAC, firefighting, fire alarm, lifts, audio visual system, CCTV and BMS.

The state-owned company also received an order worth Rs 44.37 crore to construct and furnish 500-bed multi-storey “Vishram Sadan” at AIIMS Gorakhpur in Uttar Pradesh.

NBCC Q2 Results 2024-25

In its Q2 Results of 2024-25, NBCC (India) reported 53.43 per cent increase in consolidated net profit to Rs 122.12 crore as compared to Rs 79.59 crore in the second quarter of 2023-24. The total revenue for the quarter stood at Rs 2458.73 crore. Profit before tax stood at Rs 165.90 crore in the quarter ended 30 September 2024 as against Rs 104.78 crore posted in the second quarter of the previous financial year.

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