scorecardresearchNBCC India gains over 3% after company wins order worth ₹500 crore

NBCC India gains over 3% after company wins order worth 500 crore

Updated: 15 Mar 2023, 10:53 AM IST
TL;DR.

  • On the technical front, the stock has gained 37.66% from its 52-week low of 26.6 recorded on June 17, 2022. The stock's weekly average delivery volume is 28.73%. The stock hit an intraday high of 37.20 and low of 36.35.

Shares of NBCC India gain in Wednesday's trade after ending in the red on Tuesday.

Shares of NBCC India gain in Wednesday's trade after ending in the red on Tuesday.

Shares of NBCC (India) Ltd gained over 3% on Wednesday after the company bagged work order from Government of Puducherry for 500 crore.

The company in an exchange filing said that the order is for the construction of government medical college and hospital at Karaikal in Puducherry, and the nature of contract is project management consultant (PMC) on deposit work basis.

On the technical front, the stock has gained 37.66% from its 52-week low of 26.6 recorded on June 17, 2022. The stocks weekly average delivery volume is 28.73%. The stock hit an intraday high of 37.20 and low of 36.35.

Article
Shares of NBCC India Ltd over the past one month

"Higher low on weekly. A sign of a major change in trend from down to up. Third test of a rising trendline. Safe accumulation spot at current levels. Over 2-3 months prices can trade above 44. Accumulate between 38-36 with stop loss below 32. Please note this is not a short term trade," said Prashanth Tapse, Research Analyst, Senior VP Research at Mehta Equities Ltd.

In the past year, the stock price fell 6.4% and underperformed its sector by 24.5%.

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First Published: 15 Mar 2023, 10:53 AM IST