NCC jumps 5%, hovers near 52-week high on winning Rs 8,980 cr orders in Dec

Topics NCC | buzzing stock | Markets

Earlier in December, Rakesh Jhunjhunwala, his wife and group companies increased stake in the firm to 13.7 per cent
Shares of NCC Limited rose 5 per cent on the BSE on Friday after the firm said it has received orders worth Rs 8,980 crore during the month of December. 

The scrip rose as much as 4.85 per cent to intraday high of Rs 60.45. It was trading close to its 52-week high level of Rs 61, scaled on January 16, 2020. 

The Hyderabad-based contstruction firm in a BSE filing, on Friday, said that it has won 15 new orders, totaling to Rs 8,980 crore, in the month of December. These orders are received from central and state government agencies and do not include any internal orders. READ HERE

The Board of Directors of NCC on Wednesday, December 30, approved issuance of 1,80,00,000 fully convertible warrants on preferential basis, to the promoters of the company in accordance with the provisions of the Companies Act, 2013. 

It also approved the appointment of Om Prakash Jagetiya as an Additional Director in the category of Non-Executive lndependent Director on the Board of the company.

The firm's shares have risen just 5 per cent in the past one year as against a nearly 16 per cent rise in the benchmark BSE Sensex. 

Earlier in December, ace investor Rakesh Jhunjhunwala, his wife Rekha Jhunjhunwala and group companies increased shareholding in the construction firm to 13.7 per cent.

At 11.20 am, the shares were trading 3.73 per cent higher at Rs 59.80 on the BSE. Around 1.16 crore shares have already changed hands on the NSE and BSE, combined, so far.

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