NBCC has now won orders worth nearly ₹1,500 crore in two weeks; stock near record high

NSE

NBCC Ltd., the state-run construction company, informed the exchanges that it had won an order worth ₹70 crore from the Grid Controller of India Ltd. on Tuesday.The scope for work involves planning, designing and executing interior works, including furniture, fit-out works, cabling and other infrastructure work at Grand Rue for the establishment of GRID-INDIA in New Delhi.On June 5, NBCC won multiple orders worth ₹491.45 crore from the Central Government Health Scheme (CGHS), Odisha State Cooperative Bank, Navodaya Vidyalaya, Union Bank of India, the Ministry of External Affairs, along with other clients. NBCC had also won orders worth ₹878.17 crore on June 11 from the Kochi Metro Rail Ltd., the Delhi University, Oil India and the Institute of Company Secretaries of India. Within these orders, the Kochi Metro order itself was worth ₹700 crore.With this, NBCC has won orders worth nearly ₹1,500 crore in the last two weeks.NBCC had bagged new work orders worth ₹23,500 crore in the financial year 2024, taking the overall order book to well over ₹70,000 crore.Five analysts have coverage on NBCC, out of which three of them have a "sell" rating on the stock, while one analyst each has a "buy" and a "hold" rating. Based on the consensus price target, the potential downside for NBCC is estimated to be 37%.Shares of NBCC have nearly doubled in 2024, having risen 97%. The stock had doubled in 2023 as well, when it had surged 110%. That turned out to be the best calendar year performance for NBCC since 2014 when the stock had risen 439%.Shares of NBCC are trading 0.8% higher at ₹160.8. The stock is nearing its record high of ₹176.85, which it hit on February 29 this year.