NBCC Shares Rise 4.97% Amid New Contract Wins; Analysts Predict Continued Growth

Shares of NBCC (India) Ltd have recently gained 4.97% over the past week on the Bombay Stock Exchange (BSE), closing at ₹97.10. On Thursday, the stock opened at ₹97.05, reached a high of ₹97.90, and dipped to a low of ₹95.65. Despite this week’s increase, the shares have declined by 11.93% over the last 14 days, but they have surged 122% over the past year.

In October, NBCC secured significant work orders, including redevelopment projects in Goa valued at ₹1,726 crore, which involve multiple construction initiatives such as the redevelopment of Junta House and an administrative building in Porvorim. Additionally, its subsidiary HSCC received orders worth ₹642.69 crore for expanding a medical facility in Faridabad and constructing a new hospital in Manesar.

The company’s Board of Directors will meet on November 13, 2024, to review the unaudited financial results for the quarter and half-year ending September 30, 2024.

Regarding shareholding, Foreign Institutional Investors (FIIs) reduced their holdings from 4.43% to 4.11%, while the number of FII investors increased from 155 to 173 in the September 2024 quarter. Life Insurance Corporation of India (LIC) holds a 5.11% stake in NBCC, equating to approximately 137.91 million shares.

Analysts are optimistic about NBCC’s stock performance, noting strong support at ₹93 and suggesting that a close above the resistance level of ₹99.6 could drive the price up to a target of ₹112 in the near term. Over the past two years, NBCC has delivered impressive returns of 348%, with a 52-week high of ₹139.90 and a low of ₹42.55.

Overall, with positive contract wins and upcoming financial disclosures, NBCC (India) Ltd presents a compelling case for investors to consider.

Disclaimer: The information provided in this report is for informational purposes only and should not be considered financial advice. Investing in stocks carries risks, and past performance is not indicative of future results. Please conduct your own research or consult a financial advisor before making investment decisions.