This Navratna PSU Skyrockets 18% on Winning Orders Worth Rs 146.4 Crore

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This Navratna PSU Skyrockets 18% on Winning Orders Worth Rs 146.4 Crore
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of the state-owned construction major NBCC (NS: NBCC ) (India) skyrocketed 18.32% to Rs 36.8 apiece on Wednesday and closed the session 13.83% higher at Rs 35.4 apiece.

The central public sector enterprise (PSE) stock soared after it announced winning two work orders worth Rs 146.39 crore on Tuesday.

NBCC (India) is a Government of India ‘Navratna’ Enterprise and has received two domestic orders, one of them from the apex regulatory body Small Industries Development Bank of India (NS: BOI ) (SIDBI).

Here are details of the two domestic orders bagged by NBCC (India):

#1. Small Industries Development Bank of India has awarded a work order worth Rs 100 crore to the company for project management consultancy on a deposit work basis.

As per the project details, NBCC will be involved in the construction, redevelopment, repair & maintenance, and facility management services of SIDBI buildings on a pan-India basis.

#2. Ghani Khan Choudhary Institute of Engineering and Technology (GKCIET), Malda, West Bengal has awarded a Rs 46.39 crore work order to NBCC (India).

As per the contract details, the state-owned company will have to conduct the construction of the hostel building, boundary wall, and other works at GKCIET, as part of Phase II developmental work.

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