Shares of state-run NBCC (India) Ltd surged more than 7% on Monday, July 29, reaching an intraday high of Rs 188.80. This boost followed the announcement that its wholly-owned subsidiary, HSCC (India) Limited, secured a significant order worth Rs 411.45 crore. The contract involves the construction of a government medical college and hospital in Maharashtra.
In a filing to the stock exchanges on July 29, NBCC revealed that HSCC (India) Limited received the project commissioned by the Medical Education and Ayush Department of the Government of Maharashtra. The project entails the development of a new government medical college and hospital in Buldhana.
The project includes the construction of a medical college with a capacity for 100 students and a 430-bed hospital. This initiative is part of the government’s continuous efforts to improve healthcare infrastructure and medical education in the region.
The award of this project underscores HSCC’s expertise in the construction and management of healthcare and educational facilities. This new project enhances HSCC’s impressive portfolio of healthcare infrastructure projects, reaffirming its position as a leading player in the sector.
MoU with NIT Patna
On July 4, NBCC announced the signing of a Memorandum of Understanding (MoU) with the National Institute of Technology (NIT) Patna. This project involves the construction and development of an incubation centre at NIT Patna.
Rs 100 Crore Work Order from REC Ltd
In June 2024, NBCC received a Rs 100 crore work order from REC Ltd. The project involves NBCC acting as the project management consultant (PMC) for the construction and renovation of the REC Institute of Power Management & Training building in Shivarampally, Hyderabad. REC Ltd is the overseeing client for this project.
Rs 70 Crore Order from Grid Controller of India Ltd
Additionally, NBCC secured an order worth Rs 70 crore from the Grid Controller of India Ltd. These achievements are part of a series of contracts received in June 2024, totaling over Rs 1,500 crore.
The recent surge in NBCC’s stock price reflects the market’s positive response to the company’s growing project portfolio and its demonstrated capability in managing large-scale infrastructure projects. With significant contracts secured and a strong project pipeline, NBCC continues to solidify its position as a key player in the construction sector, contributing to vital infrastructure development across India.
Disclaimer: This blog has been written exclusively for educational purposes. The securities
mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: Jul 29, 2024, 6:24 PM IST
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