NBCC, HUDCO Shares Surges, Rs 600 Crore Noida Project announced, Check details

On Thursday morning, HUDCO and NBCC shares gained momentum after the announcement of their collaboration of a major development deal between NBCC (India) Ltd and Housing & Urban Development Corporation (HUDCO), the shares of both companies on Thursday (November 27) showed a positive reaction.

Both the company's stock in the early trade hours saw a rise, driven by investor enthusiasm over the Rs 600 crore institutional complex project planned in Noida, Delhi NCR.

The shares of the company opened at Rs 223.11, touched an intraday high of Rs 240.58, and were trading at Rs 230.59, up by 4.61 percent, by 12:21 PM IST on NSE.

On a similar note, NBCC stocks opened at Rs 97.40, hit a high of Rs 100.50, and were trading at Rs 98.79, up 3.35 percent during the same time. On November 28, 2024, NBCC India Ltd, a leading construction and real estate company, saw a 4.5% increase in its stock performance, outperforming the sector by 3.32%. It has shown consecutive gains for 2 days and reached an intraday high of Rs 100.49.

The stock's performance is mixed compared to moving averages and has outperformed the Sensex in the past month. While the stock's performance is higher than the 5-day and 20-day moving averages, it is lower than the 50-day, 100-day, and 200-day moving averages. This indicates a mixed trend in the stock's performance.

 

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As per the regulatory filing, HUDCO said, "Housing and Urban Development Corporation Limited (HUDCO) has signed a Memorandum of Understanding (MoU) with NBCC (India) Limited, on 27th November 2024 at New Delhi for development of a land parcel of 10 acres, owned by HUDCO at NOIDA. HUDCO, on the said land, intends to create an Institutional complex with world-class amenities which is likely to have 8.71 Lakh sq ft. of built-up area with a mix of office space, studio apartments, conference space, and retail & common facilities. NBCC will undertake the execution of the said project with the scope of Concept-to-Commissioning," the company said.

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