This Navratna Central public sector enterprise was up 2 percent in today’s market opening after the company made an announcement related to a deal worth 5,716.43 Cr.
At 9:20 the shares of NBCC (NS: NBCC ) were trading at Rs 60 which is up by 2 percent from its previous day close price and its market capitalization is 10,566 Cr.
According to the company’s exchange filing on BSE, NBCC has announced sale of Commercial Built-up space in World Trade Centre, Nauroji Nagar, New Delhi which is going to take place through e-auction. The area offered for sale is 14.75 lakh sq ft and the value of the area offered for sale is 5,176.43 Cr.
The company has reported a revenue of 7,690.61 Cr in FY22 to 8,754.44 Cr in FY23, accompanied by profits of 237.93 Cr to 278.01 Cr.
The company has reported a return on equity (ROE) of 14.98 percent and a return on capital employed (ROCE) of 30.34 percent in FY23. Though the company is generating good returns on its capital employed it is only able to generate decent returns on equity.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 61.75 percent stake, the Domestic Institutional Investors hold 10.33 percent and the Foreign Institutional Investors (FII) hold 3.84 percent.
NBCC is a Navratna central public sector enterprise under the control of Government of India it conducts its operations in project management consultancy and realty development businesses in the domestic as well as foreign markets.
Written by: Bharath K.S
The post Debt free Navratna stock jumps in early trade after company to sell commercial built up space worth ₹ 5,716 Cr appeared first on Trade Brains.
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