Shares of NBCC India gained over 3% in early deals on Wednesday after the firm reported a 38% rise in Q1 profit. NBCC India shares rose 3.11% to Rs 178.90 against the previous close of Rs 173.50 on BSE. NBCC India's market cap climbed to Rs 31,680 crore. Shares of NBCC have zoomed 271% in a year and gained 429% in two years. Market cap of the firm rose to Rs 31,410 crore. Total 8.99 lakh shares of NBCC changed hands amounting to a turnover of Rs 15.86 crore on Wednesday.
The multibagger stock saw a high volatility with a beta of 1.5 in the last one year.
In terms of technicals, the relative strength index (RSI) of the NBCC stock stands at 48.6, signaling it's trading neither in the overbought nor in the oversold zone. NBCC shares are trading lower than the 5 day, 10 day, 20 day, 30 day but higher than the 50 day, 100 day, 150 day and 200 day moving averages.
Net profit climbed to Rs 107.19 crore in Q1 against Rs 77.41 crore in the corresponding quarter of the previous fiscal. Profit before tax climbed to Rs 144 crore in Q1 against Rs 104 crore in the June 2023 quarter.
The company's total income rose to Rs 2,197.83 crore in the April-June quarter of this fiscal from Rs 1,974.03 crore in the corresponding period of the previous year, according to a regulatory filing.
Expenses rose to Rs 2053.98 crore in Q1 against Rs 1870.18 crore in the June quarter of the previous fiscal.
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.