NBCC will get work order price ₹3500 crore in Lucknow, but share falls 6% – INA NEWS
Shares of Navratna PSU NBCC (India) fell 6.5 per cent on January 13 on BSE and closed at Rs 78.92. The corporate has obtained a piece order price Rs 3,500 crore for a mission in Lucknow. Regardless of this, there was promoting stress within the shares. The corporate has instructed the inventory exchanges that it has entered into an MoU with Authorities Housing Building and Finance Company Restricted.
Underneath this, the work associated to the execution of Blended Land Use Growth (about 588 acres of land) of Purvi Vihar, Lucknow has been given to NBCC (India) as Undertaking Administration Marketing consultant. Following the signing of the MoU, NBCC has been entrusted with the duty of taking possession of the 50-acre website and planning, designing, growth as the primary section of the mission. Its value is roughly Rs 3,500 crore.
What does NBCC (India) do?
NBCC (India) comes beneath the Ministry of Housing and City Affairs, Authorities of India and presents worth added building providers. The market cap of the corporate has come right down to Rs 21,300 crore. The federal government holds 61.75 p.c stake within the firm. The inventory had traded ex-bonus on October 7, beneath which the corporate had distributed bonus shares to its shareholders within the ratio of 1:2.
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NBCC (India) shares strengthened by 29 p.c in a single yr
Based on BSE, NBCC (India) shares have seen an increase of 29 p.c in a single yr. The inventory has fallen 10 p.c in every week. The higher value band for the share is Rs 94.70 and the cheaper price band is Rs 63.14. The circuit restrict is 20 p.c.
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NBCC will get work order price ₹3500 crore in Lucknow, but share falls 6%
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