NBCC shares in focus after securing Rs 658 crore contracts in Uttarakhand and Delhi

Synopsis

NBCC has won contracts totaling Rs 658 crore for redevelopment projects in Haridwar, Uttarakhand, and project management services in Delhi. These include revitalization projects in Haridwar and the construction of various buildings at the C-DOT Campus in Delhi. NBCC's stock performance and future outlook are also discussed, showing both recent declines and long-term gains.

NBCC shares will be in focus on Wednesday after the state-owned firm secured contracts worth a total of Rs 658 crore in Uttarakhand and Delhi.

The company bagged a Rs 439 crore contract from the Uttarakhand Investment and Infrastructure Board (UIIDB) for multiple redevelopment projects in Haridwar. These include the Rodi Belwala Area Revitalisation, Sati Kund development, Har Ki Pauri and Subhash Ghat revitalisation, and the redevelopment of a parking and commercial area near the railway station.

Additionally, NBCC secured a Rs 219.45 crore contract from the Centre for Development of Telematics (C-DOT) in Delhi. Under this project, the company will provide project management consultancy services for planning, supervision, and construction of various buildings, including a data centre, housing, hostels, and technical blocks at the C-DOT Campus in Mehrauli.

Also Read: Stocks in news: Maruti, ONGC, IREDA, Federal Bank, TVS Motor

NBCC shares target price

As per Trendlyne data, the average target price of the stock is Rs 118, which shows an upside of 42% from the current market prices. The consensus recommendation from 3 analysts for the stock is a 'Hold'.

Technically, the stock's relative strength index (RSI) is at 52.6. According to Trendlyne, an RSI below 30 is considered oversold, while above 70 indicates overbought conditions. Additionally, the MACD is at -1.4, which is below its center line, this is a bearish indicator.

NBCC shares are trading above their 10-day, 20-day, and 30-day simple moving averages (SMAs) but remain below the 5-day, 50-day, 100-day, 150-day, and 200-day SMAs.

Also Read: Bitcoin and the psychology of wealth: Robert Kiyosaki on why most people stay poor

NBCC shares performance

On Monday, NBCC shares closed at Rs 83.2 on the BSE, down 2.54%, while the benchmark Sensex gained 0.04%. The stock has dropped 28% over the last six months but has surged 280% in the past two years. The company’s market capitalization stands at Rs 22,458 crore.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

...moreless

...moreless