State-owned NBCC (India) Ltd's shares gained on Thursday, February 29, after the company came out with a series of announcements.
The company's wholly-owned subsidiary HSCC (India) Ltd bagged an order worth ₹459.7 crore from the Maharashtra government for a 600 bed general hospital, 250 bed cancer hospital, 250 bed super specialty hospital in Kolhapur, NBCC informed the stock exchanges.
In another exchange filing, the company announced it had inked an Memorandum of Understanding (MoU) with IFCI Limited on February 28, for planning and execution of infrastructure projects worth ₹150 crore.The deal also included repair or renovation works for IFCI's properties across India.
Shares of the central Public Sector Undertaking gained as much as 1.51% to a high of ₹134.2 apiece on BSE in morning trade after the company informed the stock exchanges about bagging ₹150-crore deal from IFCI. Shares of NBCC Ltd were trading 0.68% higher at ₹133.25 apiece on BSE at 12:02 pm.
The state-owned construction firm also announced on Thursday, February 29, that it had successfully executed the e-auction of a 61,000 square feet commercial built up area in New Delhi for ₹273 crore. The company said that M/s Grid Controller of India, which is a public sector undertaking (PSU) under the Power Ministry, participated in thee-auction and secured the deal.
This commercial space that has been sold by e-auction forms a part of the redevelopment project that was executed by NBCC for AIIMS Delhi, and the basic sale price of the project stands at ₹36,000 per sqft.
The proceeds received from the sale will be utilised for construction of houses for Faculty and Staff members of AIIMS Delhi, the company stated in an exchange filing on February 29, 2024.
