Shares of NBCC India gain 2% post signing MoU with Currency Note Press

Shares of NBCC (India) Ltd gained 2 percent in afternoon trade on July 4 after the company announced the signing of a memorandum of understanding (MoU) with Currency Note Press (CNP) under Security Printing and Minting Corporation of India Limited (SPMCIL).

At 2.13 pm, the stock was trading at Rs 40.20 on the National Stock Exchange, up 2.29 percent from the previous close.

On June 23, the Chief General Manager (CGM) of CNP, Bolewar Babu, and Pradeep Sharma, CGM (Engineering) of NBCC, inked an MoU for planning, designing, and execution of upcoming works such as a state-of-the-art museum and infrastructure development works like treatment plants at CNP Nasik, said the regulatory filling.

Earlier, NBCC (India) announced its Q4FY23 results, reporting 205 percent growth in consolidated net profit to Rs 108.4 crore, as against Rs 35 crore in the corresponding period last year. The state-owned company’s revenue from operations in Q4 came in at Rs 2,790 crore, representing an increase of 4.3 percent compared to Rs 2,441 crore in the year-ago period.

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