NBCC stock falls on concerns of weak execution and earnings growth

NBCC hit its five-year low on Friday on concerns of weak execution and earnings growth. While the company has a strong order book given the project management consultancy (PMC) orders on nomination basis, its recent performance has the Street worried. The company’s order book at Rs 68,000 crore on the standalone level and Rs 85,000 crore at the consolidated level means more than eight years of revenues visibility. Though the company had guided for 20-25 per cent growth at the standalone level in FY20, it reported a 23 per cent decline in revenues at the standalone level during the .....

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