Shares of NBCC India are down 28% from their record high this year. The Navratna PSU stock, which rose to a record high of Rs 176.50 on February 5 this year, was trading at Rs 127 in the afternoon session today. However, shares of NBCC have zoomed 232.55% in a year and gained 55.28% in 2024. Amid a stellar rally in the last one year, the multibagger stock saw a high volatility with a beta of 1.1 during the period.
In terms of technicals, the relative strength index (RSI) of the NBCC stock stands at 58.1, signaling it's trading neither in the overbought nor in the oversold zone. NBCC shares are trading higher than the 20 day, 50 day, 100 day, 150 day, 200 day but lower than the 5 day and 10 day moving averages.
In the current session, NBCC shares slipped 4.87% to Rs 127 against the previous close of Rs 133.50. Market cap of the firm fell to Rs 22,860 crore.
Total 14.18 lakh shares of the firm changed hands amounting to a turnover of Rs 17.92 crore on Monday.
Vaishali Parekh, Vice President, Technical Research, Prabhudas Lilladher said, "The stock has gained strength after the consolidation witnessed and a decent pullback to move past the significant 50EMA level of Rs 119 has improved the bias to anticipate for further rise in the coming days. The RSI is on the rise and has already indicated a trend reversal with much upside potential to carry on with the positive move further ahead. We suggest to buy the stock for an upside target of Rs 159 keeping the stop loss of Rs 124."
Osho Krishan, Sr. Analyst- Technical and Derivatives Research at Angel One said, "NBCC has been hovering near its multi-month breakout zone after witnessing a cool-off from highs of Rs 177. Technically, the counter is hovering with a bullish bias, but in the short run, it might trigger some correction. On the lower end, Rs 118 and Rs 110 are likely to be seen as an immediate support zone. While on the higher end, Rs 140-145 seems a daunting task for the bulls and a decisive breach could only strengthen the near-term outlook for the counter."
Abhijeet from Tips2trades said, "NBCC stock price is slightly bearish on the daily charts with strong resistance at Rs 133.6. A daily close below the support of Rs 122 could lead to target of Rs 105 in the near term."
NBCC reported a 60.2% rise in consolidated net profit to Rs 110.7 crore in the third quarter of this fiscal against a profit of Rs 69.1 crore in the year-ago period. Revenue climbed 13% to Rs 2,412.6 crore during the December quarter of 2023-24 financial year from Rs 2135 crore in the corresponding period of the previous year.
The EBITDA margin for Q3 came at 4.9% in Q3 compared to 4.5% in the year-ago period. EBITDA is earnings before interest, tax, depreciation, and amortisation.
NBCC (India) Limited provides value added services. The company operates through three segments: Project Management Consultancy (PMC), Real Estate Development, and Engineering Procurement and Construction (EPC). PMC segment is engaged in civil construction projects, infrastructure works for the national security, infrastructure projects for the civil sector, and project implementation for Pradhan Mantri Gram Sadak Yojna (PMGSY) and developmental work in Northeastern Region.