Infrastructure and building construction major NCC Ltd gained 2 percent on Wednesday after the company announced that it has received three orders worth Rs 2,374 crore in the month of February.
The orders have been received from state government agencies and a public sector undertaking (PSU), the company said in a filing to the stock exchanges.
Out of these three orders, one order valued at Rs 1,224 crore relates to the transportation division, the second order worth Rs 830 crore pertains to water and environment division and the third order to the tune of Rs 320 crore belongs to mining division, the company said.
In comparison to February, NCC bagged four orders worth Rs 1,755 crore in the month of January and five orders valued Rs 3,601 crore in December 2022.
NCC group is engaged in the construction business and focuses on urban infrastructure, road construction, and township projects through its two subsidiaries— NCC Urban and NCC Infra. The company develops SEZs and builds schools, hospitals, roads, bridges, houses, offices, and commercial spaces.
Earlier brokerage firm DAM Capital said that the company won orders worth Rs 5,000 crore in the December quarter. The company's orderbook was estimated to be worth Rs 42,000 crore, 4.2 times its revenue for financial year 2022. NCC was the preferred pick in the infrastructure space for the brokerage.
Shares of NCC were trading 2.03 percent higher at Rs 90.91 apiece on BSE at 11:15 AM on Wednesday.
Shares of NCC are trading 2.2 percent higher at Rs 90.95. Shares are up nearly 47 percent over the last 12 months.
