NCC share hits 52-week high after firm wins Rs 8,980-crore orders in December

NCC share rose nearly 7% in early trade today after the firm said it received 15 new orders worth Rs 8,980 crore in December from government agencies. NCC share hit a fresh 52-week high of Rs 61.65 rising 6.94% against previous close of  Rs 57.65  on BSE.

The small cap stock has gained after 2 days of consecutive fall.  

NCC share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has gained 11.18% in one year and risen 6% since the beginning of this year.

In a month, the share has gained 36.8%. Market cap of the firm rose to Rs 3,735 crore.

"NCC has received fifteen new orders totaling to Rs 8,980 crore (exclusive of GST) in the month of December, 2020," the company said in a BSE filing.

These orders are received from Central/State Government agencies and do not include any internal orders, the company added.

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In Q2, Hyderabad-based NCC reported a 21.14 per cent fall in net profit at Rs 64.6 crore against Rs 82.18 crore in the corresponding quarter of the previous year.

Total income fell to Rs 1,743.59 crore (including other income) in Q2 against Rs 1,998.25 crore in the corresponding quarter of the previous year.

Meanwhile, extending gains for the eighth consecutive session, Sensex rose 175 points to 47,927 and Nifty was trading 50 points higher at 14,030. During today's session, Sensex hit a lifetime high of 47,958 and Nifty rose to a new high of 14,040.