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NBCC stock zooms over 11% on winning Rs 180Cr order from SAIL

Sep 14, 2023

By: BlinkX Research Team

NBCC India Ltd stock zoomed over 11% on Thursday's trading session after winning a major order from SAIL.

In a regulatory filing, the company informed that it has received Consultancy & Project Management Services order from SAIL for upcoming Infrastructural related projects of Bokaro Steel Limited Plant, township, Mines & Collieries.

Further, the order value is Rs 180 crore, the company mentioned.

At around 10:05 AM, shares of NBCC were trading higher by 11.54% at Rs62.72 per share, inching close to its 52-week high of Rs63.65 per share seen on September 6, 2023 on the BSE.

Also, NBCC has signed a quadripartite MoU with Ministry of Steel (MoS) Govt. of India, Rashtriya Ispat Nigam Limited (RINL) and National Land Monetization Corp. Ltd. (NLMC) for monetization of the non-core assets of RINL at Vishakhapatnam.

As per MoU, NBCC would act as technical cum transaction advisor and assist Ministry of Steel (MoS), RINL and NLMC in monetization of the non-core assets, the company said to the exchanges.