NBCC (India) shares rise 3% after bagging Rs 500-cr order from Puducherry

Shares of NBCC (India) gained over 3 percent in early trade on March 15 on the news of the company bagging orders worth Rs 500 crore  from the Puducherry government.

The company has been awarded the job of building a medical college and hospital to be run by the government in Karaikal, Puducherry.

At 10.29am, the NBCC (India) shares were trading at Rs 36.60 on the NSE, up 2.95 percent from the previous close. The stock notched over 6 percent gains in the past month, but still declined 11.3 percent in the last three months.

The construction company won orders in Himachal Pradesh, Jammu & Kashmir, Andhra Pradesh and Odisha, worth a combined Rs 770.83 crore, earlier this month.

The recent win will help it improve its order book which stood at Rs 54,600 crore as on February 24.

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The company had also secured a business of Rs 194.17 crore in January as against Rs 309.10 crore in December and Rs 300.41 crore in November.

In the third quarter, it posted a 17 percent on-year decline in net profit, despite a 6 percent rise in sales.