NBCC Navratna Status sees surge in share prices

NBCC
NBCC

National Building Construction Corporation (NBCC) got the ‘Navratna’ status on Tuesday. The CPSE under urban development ministry saw a surge in its share price post the announcement. With this NBCC became the 15th company amongst 250 central public undertakings in the country. NBCC CMD A K Mittal said, “We, now, plan to increase our footprints in global market, beginning with Middle-East and CIS countries.”

NBCC provides civil engineering construction services in a wide gamut of projects of varied nature, complexities and at socio-political geographical locations, both at home and overseas, an official release said.

The company has been granted “Navratna Status” w.e.f. June 23, 2014 on the basis of its performance upon fulfilling the criteria prescribed by Department of Public Enterprises, NBCC said in a regulatory filing.

The stock opened at Rs 302 and touched a record high of Rs 332 on NSE. The counter has seen huge trading activity with a combined 1.19 million shares changing hands on the counter till noon deals on NSE and BSE.

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