NBCC (India) shines on entering into MoU with Sarkari Awas Nirman Avam Vitt Nigam
NBCC (India) is currently trading at Rs. 82.70, up by 3.78 points or 4.79% from its previous closing of Rs. 78.92 on the BSE.
The scrip opened at Rs. 79.23 and has touched a high and low of Rs. 83.13 and Rs. 79.23 respectively. So far 294444 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 139.90 on 28-Aug-2024 and a 52 week low of Rs. 56.43 on 18-Jan-2024.
Last one week high and low of the scrip stood at Rs. 92.39 and Rs. 78.50 respectively. The current market cap of the company is Rs. 22326.30 crore.
The promoters holding in the company stood at 61.75%, while Institutions and Non-Institutions held 13.20% and 25.05% respectively.
NBCC (India) has entered into a Memorandum of Understanding (MoU) with Sarkari Awas Nirman Avam Vitt Nigam whereby the later party has agreed to award the works related to execution of mixed land use development of Poorvi Vihar, Lucknow around admeasuring 588 Acre to NBCC as Project management Consultant and whereas NBCC has agreed to undertake and complete all works accordingly on the terms and condition set forth in the MoU.
Subsequent to the signing of the MoU, NBCC has been assigned with the work of taking of the possession and planning, designing and development of encumbrance free site admeasuring 50 acres as phase 1 of the Project having approximately value of Rs 3,500 crore. NBCC will execute the project on ‘deposit on work’ basis and the agency charges is 10% on the actual cost of the project plus GST & taxes as per applicable rates.
NBCC (India) is one of the few public sector companies engaged in the business of project management consultancy services for civil construction projects (PMC), civil infrastructure for power sector and real estate development.
