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The stock of public sector construction major NBCC has been on a roll, rising 26 per cent in the last one month. The company secured two orders in the last couple of weeks. It also helped that the broader markets and, indeed, the PSU pack has had a good run for much of March.
NBCC secured various infrastructure project contracts worth about ₹1000 crore, which it reported last week. Earlier, the company had managed to win the Raipur Smart City project worth ₹700 crore.
NBCC reported a reasonably good December quarter, with net sales increasing by 25 per cent Y-o-Y to ₹1,651.6 crore, and net profits growing 25.7 per cent to ₹77.7 crore.
The company has guided for a 30 per cent revenue growth for FY19 over the previous fiscal and looks all set to achieve the figure. Despite the recent rally, the stock is down nearly 40 per cent from its 52-week high price levels.
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