NBCC (India) has entered into two memorandum of understanding (MoU) with Housing and Urban Development Corporation Limited (HUDCO). NBCC stock surged 3.95 per cent on the NSE as of 11.32 am on Thursday to trade at ₹144.70.
The stock had earlier hit a 52-week high on February 5, 2024, at ₹176.85.
Meanwhile, HUDCO stock traded at ₹195 on the NSE, down by 0.43 per cent.
The MoUs pertain to reinforcing cooperation and collaboration to leverage respective strengths for the effective implementation of consultancy services and for the effective implementation of asset monetisation activities.
In addition, NBCC had obtained the in-principle approval from Greater Noida Authority for the development of unused and purchasable FAR in furtherance of five existing projects of Amrapali valued at ₹10,000 crore.