NBCC (India) Ltd shares saw a 4.64% rise to ₹101.35 on November 6, 2024, on the Bombay Stock Exchange (BSE). The surge follows the company securing three major orders in November worth ₹800 crore. Over the past year, NBCC has delivered impressive multi-bagger returns, gaining 125%, although its stock has declined 10% in the last month. The company’s market capitalization now stands at ₹27,364.50 crore. Analysts have set a target price of ₹112 for the stock in the near term, citing strong bullish trends and support at ₹96.8.
On November 5, 2024, NBCC was awarded a ₹500 crore order from the Bureau of Indian Standards (BIS). The company also received work orders worth ₹65 crore through its subsidiary, Hindustan Steelworks Construction Limited (HSCL), and ₹235.46 crore in work orders on November 1, 2024. These new orders reflect NBCC’s strong performance and robust pipeline.
In terms of shareholder activity, Foreign Institutional Investors (FII/FPI) reduced their holdings from 4.43% to 4.11% in the September 2024 quarter. However, the number of FII/FPI investors increased from 155 to 173 during the same period. Mutual Funds increased their stake from 3.04% to 3.45%, with the number of mutual fund schemes rising from 13 to 18. Overall, institutional interest remains steady despite slight changes in individual holdings.
NBCC has a strong track record, having recommended two bonus shares and split its face value twice, alongside paying 15 dividends since 2012. In the last year, it paid a dividend of ₹0.63 per share. The stock has performed exceptionally well, gaining 7.19% over the past two weeks and jumping 85% in 2024. Over the last two years, the stock price has surged by 348%. Its 52-week high is ₹139.90, while the low is ₹42.55.
With a solid order book, a growing institutional base, and positive growth indicators, NBCC continues to be an attractive investment option. The company will announce its financial results for Q2 FY25 on November 13, 2024, which could provide further insights into its performance.
Disclaimer; The information provided is for informational purposes only and should not be construed as financial advice. Please consult with a qualified financial advisor before making any investment decisions.
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