Infrastructure and building construction major NCC Ltd. received two new orders worth Rs 376 crore for the month of November from state governments.
Out of these two orders, one order valued at Rs 321 crore pertains to electrical division, and the second order worth Rs 55 crore belongs to the roads division.
In early November, NCC Ltd. received orders worth over Rs 1,056 crore related to water and environment division from state agencies.
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.
Riding on new order wins and good financial results in the September quarter, shares of NCC Ltd. have gained over 11 percent in the past month. The stock had a fresh 52-week high of Rs 84.60 on November 29.
The shares of the Hyderabad-headquartered company are under the radar due to its recent gains and the stock has also surged over 28 percent in the last six-month period. Rekha Jhunjhunwala, the wife of late ace investor Rakesh Jhunjhunwala, holds over 12 percent stake in the company.
In the September quarter, NCC's net sales increased to Rs 33,73.43 crore as against Rs 2,581.37 crore in the same period a year ago. The company’s net profit stood at Rs 137.54 crore.
Shares of NCC ended at Rs 79.90, down 3.44 percent.
