NBCC shares jump as company bags its largest ever overseas contract

NBCC shares jump as company bags its largest ever overseas contract

Stock Score, Analysts' Ratings & Recommendations EARNINGS FUNDAMENTAL RELATIVE VALUATION RISK PRICE MOMENTUM Stock score of NBCC (India) Ltd moved up by 2 in a week on a 10-point scale. View Latest Stock Report

Stock Analysis Stock score of NBCC (India) Ltd is 7 on a scale of 10. View Stock Analysis »

NEW DELHI: Shares of state-ownedrose more than 3% on the National Stock Exchange on Monday after the company informed the exchanges that it has received a contract worth Rs 968 crore for a social housing construction project in the Maldives.The contract, so far NBCC’s biggest in the overseas market, is for building of 2,000 social housing units at Hulhumale, Maldives, the company’s release said, adding that the contract will be implemented on an Engineering, Procurement and Construction basis.At 11:47 hours (IST), the scrip traded Rs 1.2 or 2.59% higher at Rs 47.55 on NSE.The contract is between Fahi Dhiriulhun Corporation, a state-owned Maldives-based company, NBCC and JMC projects for a total of 4000 social housing units and EXIM Bank has provided buyers' credit worth close to $230 million for the project.

Stocks in the news: ZEE, IndiGo, NBCC, Biocon, UBL, NTPC and JSPL

Stock Score, Analysts' Ratings & Recommendations EARNINGS FUNDAMENTAL RELATIVE VALUATION RISK PRICE MOMENTUM Stock score of Interglobe Aviation Ltd moved up by 2 in a month on a 10-point scale. View Latest Stock Report

Stock Analysis Stock score of Interglobe Aviation Ltd is 6 on a scale of 10. View Stock Analysis »

Nifty futures on the Singapore Exchange traded 57 points, or 0.32 per cent higher at 17,915, signaling that Dalal Street was headed for a positive start on Monday. Here are a dozen stocks which may buzz the most in today’s trade:The largest investor Invesco reiterated its call for an extraordinary general meeting (EGM) to discuss the ouster of three directors and the inclusion of six independent board members, signalling that the tussle for control continues.The steelmaker aims to start mining at Kasia iron ore block within a month, its Managing Director V R Sharma said. The integrated steelmaker on Thursday announced bagging of the block, which has total reserves of 278 million tonnes (MT).The London Court of International Arbitration has given the final arbitration award in the matter related to the spat between IndiGo promoters, Rahul Bhatia and Rakesh Gangwal, and no directions have been issued toState-owned power giant NTPC has bagged 1.9 GW solar projects in CPSU Scheme-II tender. With this, NTPC now has over 6.3 GW capacity won through competitive biddings.Biotechnology major Biocon said the US health regulator has issued six observations after the inspection of the manufacturing facility of its Malaysian subsidiary Biocon Sdn Bhd. The USFDA conducted an on-site pre-approval inspection of the company’s Malaysian subsidiary Biocon Sdn Bhd’s manufacturing facility for Insulin Aspart between September 13 and September 24.State-owned NBCC said it has bagged a Rs 968 crore contract, its biggest order in the overseas market, for the construction of 2,000 social housing in Maldives. In a regulatory filing, NBCC informed that it has secured the work order of construction of 2000 Social Housing at Hulhumale, Maldives on EPC basis.The company said its board has approved raising up to Rs 750 crore by issuing foreign currency convertible bonds (FCCBs) on a private placement basis. Reliance Infrastructure in a BSE filing also said that Sandeep Khosla has been appointed as Chief Financial Officer (CFO) of the company.Off-highway tyres major Balkrishna Industries said it will raise up to Rs 1,000 crore through long-term borrowings. In a regulatory filing, the company said its board at a meeting held on Saturday decided to raise “funds up to Rs 1,000 crore through broader means of long-term finance”.The government has given an option to telcos to pay back interest on dues through equity and also conveyed that it has no interest in acquiring any telecom company, a top official of debt-ridden Vodafone Idea has said.State-owned hydro power giant NHPC said its board has approved the proposal to form a subsidiary for the development of renewable energy, small hydro and green hydrogen projects.Markets regulator Sebi said Jammu & Kashmir government can transfer its 8.23 per cent stake in Jammu & Kashmir Bank to the union territory of Ladakh, subject to the lock-in in the hands of transferee. Post the transfer of shares, UT of Ladakh will continue to be the promoter of the bank.Competition Commission imposed penalties totalling over Rs 873 crore on United Breweries Ltd, Carlsberg India, All India Brewers' Association (AIBA) and 11 individuals for cartelisation in the sale and supply of beer.The company said that it has appointed Subrajit Bhowmick as Chief Financial Officer (CFO) of the company. Incumbent CFO Sandeep Khosla has been elevated to the CFO of Reliance Infrastructure Limited, the promoter of Reliance Power Limited, a BSE filing said.Drug firm AstraZeneca Pharma India said it has received import and market permission from the Indian drug regulator for Selumetinib capsules.UBS Principal Capital Asia on Friday sold Axis Bank’s shares worth nearly Rs 255 crore through an open market transaction.According to block deal data on BSE, 32.14 lakh scrips were offloaded at an average price of Rs 793.1 apiece. This translates to a total deal value of Rs 254.9 crore.The Ministry of Railways has extended the tenure of disinvestment-bound Container Corporation of India (CONCOR) Chairman and Managing Director V Kalyana Rama by two years till September 30, 2023. Rama’s tenure was ending on September 30, 2021, CONCOR said in a BSE filing.Indiabulls Housing Finance on Friday said it has raised Rs 800 crore by allotting bonds through a public issue. The bond issue committee of its board of directors, through a resolution on Friday, approved an allotment of 7,922,755 non-convertible debentures (NCDs) of a face value of Rs 1,000 each aggregating to Rs 7,922,755,000 on a public issue basis, Indiabulls Housing Finance said in a regulatory filing.Thec company said its subsidiary, Makesense Technologies Ltd, intends to file a fresh scheme of amalgamation with PB Fintech - which operates Policybazaar - after the latter’s IPO. In April, Info Edge had announced the merger of Makesense Technologies and PB Fintech.HDFC said it has sold a part of the shares, invoked by it of Ansal Housing, to recover its dues.In August, HDFC had invoked 46,20,000 shares of Ansal Housing Limited (Ansal) aggregating 7.78 per cent of the paid-up share capital, for recovery of part outstanding dues against loans availed by pledgers/borrowers.The cement maker said it has commenced commercial production from the second line (Line 2) having a capacity of 2.25 million tonnes at its Kapilas Cement Manufacturing Works (KCMW) unit near Cuttack in Odisha.The Chennai-based company will launch a complete range of electric two and three-wheelers with power output ranging from 5 to 25 kilowatts in the next two years as it seeks to play a leading role in the country’s emerging electric vehicle space, according to a top company official.ICICI Pru Life is in discussion for onboarding the Account Aggregator system, a financial data sharing platform to be regulated by the Reserve Bank. Earlier this month, the government unveiled the Account Aggregator (AA) network to allow sharing of financial data of individuals, which can be used by various financial services providers such as banks, insurers, fintech companies.The country’s largest private sector lender, on Sunday said it aims to double its rural reach to two lakh villages, which will see it hire 2,500 people in the next six months.

Stocks To Watch: PVR, NBCC, Hindustan Copper

PVR: Theatres and auditoriums will re-open in Maharashtra from October 22, 2021

The domestic stock markets are likely to open in the green, going by positive cues from SGX Nifty futures. Trends on SGX Nifty indicate a positive opening for the Nifty, with a 94-points gain. At 8:00 am, the Nifty futures were trading at 17,952, higher by 94 points, on the Singapore Stock Exchange.

The markets had a historic day on Friday as the BSE Sensex closed above the 60,000-mark for the first time. The BSE Sensex jumped 163.11 points to 60,048.47 and the Nifty rose 30.25 points to 17,853.20.

Stocks to watch in trade in today’s session

NBCC

NBCC has bagged a work order of ‘construction of 2000 social housing’ at Hulhumale, Maldives on EPC basis. The total cost of the project is Rs 968.50 crore.

PVR

Theatres and auditoriums will re-open in Maharashtra from October 22, 2021.

Hindustan Copper

The government to sell up to 31,98,646 equity shares of Hindustan Copper to eligible employees through an offer for sale at a price of Rs 116 per share. The employee OFS will be open from September 27 to September 29.

Dalmia Cement (Bharat)

Dalmia Cement (Bharat) has started commercial production of Line 2 at its Kapilas cement manufacturing works, Cuttack.