Shares of NCC Ltd are in focus after the firm bagged five new orders worth Rs 1919 crore in March from central and state governments. In the last session, the stock hit a fresh 52-week high of Rs 108.5 on BSE. The stock of the Hyderabad-based construction company closed at Rs 107.05 against the previous close of Rs 106.30 on BSE.
The share has gained 64.82% in one year and risen 27.29% since the beginning of this year. In a month, the share has gained 18.88%. Market cap of the firm rose to Rs 6,721 crore on BSE. Total 4.98 lakh shares of the firm changed hands amounting to a turnover of Rs 5.34 crore on BSE. The stock hit a 52-week low of Rs 51 on June 21, 2022.
In the December 2022 quarter, Rekha Jhunjhunwala, wife of late investor Rakesh Jhunjhunwala raised her stake in the construction firm. According to the shareholding pattern of NCC, Rekha Jhunjhunwala raised her stake in the company from 12.64 per cent in the September quarter to 13.09 per cent. These shares include those NCC shares as well that earlier belonged to her late husband Rakesh Jhunjhunwala. Rekha Jhunjhunwala purchased 28,47,666 NCC shares, amounting to 0.45 per cent of total paid up capital of the infrastructure company.
Rekha Jhunjhunwala owned 13.09 per cent stake or 8,21,80,932 shares of NCC in the December quarter. However, in the September 2022 quarter, Rekha Jhunjhunwala owned 7,93,33,266 shares or 12.64 per cent stake in Hyderabad-based NCC.
In terms of technicals, the relative strength index (RSI) of NCC stock stands at 67.8, signaling it’s trading neither in overbought nor in the oversold zone. NCC shares have a beta of 1, indicating average volatility in a year. Shares of NCC were trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
The orders include two orders worth Rs 952 crore for the company’s transportation division, two orders of Rs 792 crore for its electrical division and one order of Rs 175 crore for the building division. The company said that these orders need to be executed in 18 to 36 months from the date of award.
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