NBCC share price nosedives 6% despite ₹3500 crore order win from UP's Sarkari Awas Nirman Nigam

Stock Market Today: NBCC (India ) Ltd share price nosedived more than 6% in the intraday trades on Monday amidst weak market conditions. This was despite company's acnnouncement pertaining to ₹3500 crore order win from UP Awas Vikas

Share price movement

The NBCC (India) share price opened at ₹82.39 on the BSE on Monday amidst weak markets. The NBCC share price opened more than 2% lower compared to previous closing price of ₹84.25. The NBCC share price thereafter dipped further lower to intraday lows of ₹78.80, marking decline of more than 6%. The markets remained weak on Monday as the benchmark S&P Sensex and the Nifty cracked 1%. Broader markets also remained weak.

NBCC share price though may have corrected more than 15% in 2025 with corrections in the Broader markets. However NBCC India share price having risen more than 3 folds in last 2 years has given multibagger returns to the investors.

NBCC (India) on Monday 13 January 2025, Intimated the exchanges about the Memorandum of Understanding between Sarkari Awas Nirman Avam Vitt Nigam Ltd and NBCC (India) Limited

Order win details

As per the release on the exchanges NBCC (India) Limited has entered into a Memorandum of Understanding (MoU) with Sarkari Awas Nirman Avam Vitt Nigam Ltd whereby the later party has agreed to award the works related to exeution of mixed land use development of Poorvi Vihar, Lucknow approximately admeasuring 588 Acre to NBCC as Project management Consultant. NBCC (India) whereby has agreed to undertake and complete all works accordingly on the terms and condition set forth in the MoU.

Subsequent to the signing of the MoU, NBCC has been assigned with the work of taking of the possession and planning, designing and development of encumbrance free site admeasuring 50 acres as phase 1 of the Project having approx. value of Rs. 3,500 crores. NBCC will execute the project on “deposit on work” basis and the agency charges is 10% on the actual cost of the project plus GST & taxes as per applicable rates.

The said MoU work is in the normal course of business of the Company, as per the release

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.