NBCC bags work order worth Rs 66.3 crore from Indian Medical Association; shares gain

The order is expected to be executed within 30 months.

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NBCC India shares gained a percent in the early trade on August 29 after the company bagged a work order worth Rs 66.32 crore from the Indian Medical Association.

The work order includes planning, designing and execution of IMA House at Indraprastha, New Delhi.

The order is expected to be executed within 30 months.

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On August 22, the company informed that a Memorandum of Understanding (MoU) was signed between NBCC and DMRC on August 21, 2023, to work together in the field of building & infrastructure development overseas.

Earlier, on August 11, the company said that it received work orders for various work projects worth Rs 279.31 crore.

NBCC posted a net profit of Rs 77.41 crore in the quarter ended June 30, while its total income grew 6.61 percent to Rs 1,917.87 crore.

At 09:20 hrs NBCC (India) was quoting at Rs 51.60, up Rs 0.73, or 1.44 percent on the BSE.

The shares touched a 52-week high of Rs 52.05 and a 52-week low of Rs 29.85 on August 23, 2023, and September 30, 2022, respectively.

Currently, the stock is trading 0.86 percent below its 52-week high and 72.86 percent above its 52-week low.