PSU Stock in Focus: Shares of State-owned NBCC gained over 4 per cent on Thursday as the company has informed exchanges that it has signed a memorandum of understanding (MoU) worth Rs 25,000 crore. According to the information shared, the MoU has been signed with Mahatma Phule Renewable Energy and Infrastructure Technology Ltd to jointly undertake housing and urban development projects worth Rs 25,000 crore in Maharashtra.
NBCC Share Price
The stock opened in green today at Rs 82.61 on the BSE against the previous close of Rs 81.06. The stock gained further to touch the intraday high of Rs 84.69 - a gain of 4.47 per cent.
The 52-week high of the counter is Rs 139.90, and the 52-week low is Rs 70.82. The market cap of the company is Rs 22,285.80
NBCC Share Price History
The stock has given a multibagger return of 287.62 per cent in two years and 225 per cent in three years. However, the stock has corrected over 10 per cent so far this year and 29.90 per cent in six months.
NBCC's first redevelopment project in Maharashtra
NBCC, which is into Project Management Consultancy (PMC) and real estate business, said it will be entering into redevelopment for the first time in Maharashtra after having great success in transforming the landscape of Delhi through this unique redevelopment model.
Under this partnership, NBCC and MAHAPREIT will collaborate on key infrastructure projects in Maharashtra, including cluster development projects in Thane Municipal Corporation, data centres, renewable energy initiatives, slum rehabilitation projects in the Mumbai Metropolitan Region (MMR) and various residential projects under the Pradhan Mantri Awas Yojana (PMAY).
"These projects, with an estimated value of Rs 25,000 crore, will be executed in a phased manner over the next three to five years," NBCC said.