10 INSIGHTS INTO THIS PSU STOCK'S 400% SURGE IN A YEAR
Published By MintGenie Team | 05 Feb, 2024
NBCC Stock Soars
NBCC (India) shares rise by 4.8% in the eighth consecutive trading session, hitting ₹176.85 per share.
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Multibagger Returns
The stock delivers a remarkable multibagger return of 111.23% in just one month.
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Impressive Growth Trend
NBCC sees a robust upward trend, surging by 284% in the last six months and nearly 400% in the last year.
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Notable Gains in February
Substantial gains of 10% and 19% recorded on February 01 and February 02, contributing to the surge.
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Triggered by Government Emphasis
The stock's surge is attributed to the government's emphasis on affordable housing in the Union Budget 2024–2025.
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PMAY's Ambitious Plan
Finance Minister Nirmala Sitharaman announces a plan to construct 20 million new houses under PM Awas Yojana in the next five years.
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PMAY's Focus
PM Awas Yojana aims to provide affordable housing to economically weaker sections, low-income groups, and middle-income groups through financial assistance.
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NBCC's Core Operations
Established in 1960, NBCC's core operations include project management consultancy, real estate development, and EPC contracting.
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Order Wins Drive January Surge
NBCC marks a significant return in January, driven by securing eight new orders, including a substantial one for agri-infrastructure.
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Financial Performance
In Q2 FY24, NBCC posts a consolidated net profit of ₹82 crore and records a revenue from operations of ₹2,053 crore, showcasing positive financial momentum.