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Business News/ Markets / Stock Markets/  NECC share price touches upper circuit. Rises 8.5% in two days on GAIL order

NECC share price touches upper circuit. Rises 8.5% in two days on GAIL order

NECC share price has been in uptrend after receiving GAIL order worth ₹52.48 crore

Stock market news: Logistics company NECC has received order from GAIL for transportation of polymer.Premium
Stock market news: Logistics company NECC has received order from GAIL for transportation of polymer.

Stock market today: Shares of NECC (North Eastern Carrying Corporation) has been in uptrend for the last two sessions. In last two sessions, NECC share price has risen from 30.15 to 32.70 apiece levels on NSE, logging around 8.5 per cent rally in this time. While climbing to intraday high of 32.70 per share levels, the logistics stock missed to touch its 52-week high of 34 apiece by less than 4 per cent.

In fact, NECC share price today touched upper circuit during morning deals after logging decent rally on Friday. NECC share price today opened upside at 32 apiece levels and went on to touch intraday high of 32.70 per share levels, hitting 5 per cent upper circuit within few minutes of opening bell in stock market today.

NECC receives GAIL order worth 52.48 crore

As per the latest exchange filing of NECC, "Pursuant to Regulation 30 read with Schedule III of the SER] Requirements) Regulations, 2015 ("Listing Regulations"), we hereb of Acceptance from the Top Central Public Sector Undertakin Gas, Government of India, GAIL (India) Limited for transport Rs. 52.48 crores for a period of 3 years."

NECC news

Recently,  NECC entered into an MoU with SG Logistic Management private limited to acquire up to 20 per cent of shares or securities for an aggregate Investment size of up to 20 crores.

The logistics company, which offers a wide range of transport services in India, Nepal and Bhutan, informed Indian stock market exchanges about the same citing, “In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that the Company has entered into Memorandum of understanding with S.G. Logistic Management Private Limited today i.e December 04, 2023 to invest upto 20 Crores in the same and acquiring upto 20% of shares/ other securities therein."

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 decision.

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 11 Dec 2023, 02:22 PM IST
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