NBCC share price gained 2 percent in early trade on November 20 after the company signed a Memorandum of Understanding (MoU) with the Institute of the Chartered Accountants of India (ICAI).
At 09:27am, NBCC (India) was quoting at Rs 68.50, up Rs 1.50, or 2.24 percent on the BSE.
Under the MoU, the ICAI has agreed to award the work relating to planning, designing, and execution of ICAI’s buildings & renovation works at various locations in India as deposit work on a turnkey basis on the terms and conditions set forth and whereas NBCC has agreed to undertake and complete the works accordingly at a PMC fee at 6.5 percent (excluding GST) on actual project cost.
The company had posted 16.7 percent fall in its September quarter net profit at Rs 79.6 crore against Rs 95.5 crore in the same quarter last year.
Revenue of the company in the July-September quarter was up 1.2 percent at Rs 2,053.3 crore against Rs 2,029.7 crore, YoY.
Earnings before interest, tax, depreciation and amortization (EBITDA) was up 8 percent at Rs 95.5 crore, while margin was up at 4.7 percent, YoY.
Orders won in October 2023
The company received a Rs 80-crore order from the Visakhapatnam Port Authority for the renovation and refurbishment of office buildings located at Visakhapatnam Port.
Also won an order worth Rs 25.19 crore from Ali Yavar Jung National Institute of Speech and Hearing Disabilities (Divyangjan), AYNISHD, Mumbai, for the construction of a permanent building of the newly approved composite regional centre at Chhatarpur, Madhya Pradesh.
The share touched a 52-week high of Rs 74.30 and a 52-week low of Rs 30.96 on October 20 and March 28, respectively.
Currently, the stock is trading 7.81 percent below its 52-week high and 121.25 percent above its 52-week low.