By Malvika Gurung
Investing.com -- Shares of the state-owned construction sector major NBCC India (NS: NBCC ) jumped 12.8% to Rs 63.5 apiece in the intraday trade on Thursday, only a stone’s throw away from the stock’s 52-week high of Rs 63.6 apiece recorded on Sept 6, 2023.
The Navratna central public sector enterprise (CPSE) has signed a quadripartite Memorandum of Understanding (MoU) with the Ministry of Steel (MoS), Rashtriya Ispat Nigam Limited (RINL), and National Land Monetization Corp. Ltd. (NLMC).
The agreement has been signed for monetizing the Non-core assets of RINL at Visakhapatnam.
According to the details of the MoU, NBCC will act as a Technical cum Transaction Advisor as well as assist the three bodies (MoS, RINL, NLMC) in the monetization of Non-core assets of RINL.
Further, the Navratna CPSE has won a work order worth Rs 180 crore from SAIL (NS: SAIL ), Bokaro Steel Plant.
The nature of the contract will involve consultancy and project management services for the upcoming infrastructural related projects of Bokaro Steel Plant, township, mines and collieries, said NBCC.
Shares of the state-owned company have continued rising for the second day in a row, jumping 16.1% in the period. So far in the year, NBCC’s shares have shot up 57.35%.
Note: Thank you to those who attended yesterday's webinar by Aayush Khanna. You can access the full recording here: https://shorturl.at/rHQYZ.
Kindly note that a once-in-a-lifetime offer of 65% discount on InvestingPro+ via the coupon code PROW629 is only valid till 30th September, 2023 and for new subscriptions only.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.