NBCC (India) Limited has informed the Exchange regarding 'Intimation of Work Orders received by NBCC (India) Limited in the ordinary course of business amounting to Rs. 220.31 Cr. approx.'.
NBCC · price
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On the reaction day the stock moved 0.5 pts more than Nifty Smallcap 250 and 0.3 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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NBCC has won three new work orders worth approximately Rs. 220.31 Crore in the ordinary course of business. The biggest order, Rs. 163.12 Crore, is from Canara Bank for building its Head Office Annex in Bengaluru. The remaining Rs. 57.19 Crore comes from Navodaya Vidyalaya Samiti (an autonomous body under the Ministry of Education) for constructing a boys' dormitory at JNV Jalna in Maharashtra and a permanent campus at JNV Medchal in Telangana. All three are domestic orders executed under NBCC's Project Management Consultancy (PMC) model. None of the orders involve related-party transactions.
Positive for order book visibility, but the Rs. 220 Cr addition is small relative to NBCC's overall order book and annual revenue (which runs into several thousand crores), so the impact on stock price is likely to be modest. The Canara Bank win reinforces NBCC's presence in the PSU banking infrastructure space.