NBCC shares boosts over 5%, secures orders worth Rs 1,726 crore from Goa government

NBCC (India) Ltd shares surged over 5.8% as the construction company has bagged six redevelopment orders from the Goa government in the first phase worth Rs 1,726 crore. The projects include — the redevelopment of Junta House, government garage, and circuit house in Panjim, the construction of an administrative building at Porvarim, the redevelopment of government quarters at St Inez, and the redevelopment of the mini-convention center at Tiswadi in Patto.

Earlier, the company's subsidiary was awarded an order for the campus development of Gondwana University at Gadchiroli in Maharashtra. The total value of the order is said to be worth Rs 1,000 crore.

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The shares recorded a sharp decline of 18.53% in the last 7 days only and slipped over 22% in the last 2 weeks. However, NBCC (India) stock surged 61% so far in 2024 and delivered multi-bagger returns of 107% in the last 1-year. The company won two orders on October 22, 2024 worth Rs 41.00 crore and 1322 crore.

The latest decline in NBCC (India) shares pushed the stock price below Rs 90. Its ROE is 17.20 and PE is 43.04. The civil construction sector company has a market capitalization of Rs 23,746.50 crore.

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