NBCC shares in news as PSU proposes construction plan for Supertech buyers

Shares of NBCC (India) are in news today after the PSU major said it has proposed a three-year construction plan to assure thousands of homebuyers of 17 projects of Supertech. The plan aims to complete 50,000 apartments, which an insolvency professional currently manages. 

The Navratna PSU stock ended 2.74% lower at Rs 173.80 on Monday. Shares of NBCC have zoomed 191.66% in a year and gained 112% in 2024. However, the multibagger stock saw 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 43.4, 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, 50 day but lower than the 100 day, 150 day and 200 day moving averages.

In the previous session, market cap of the firm stood at Rs 31,284 crore.

Total 11.87 lakh shares of the firm changed hands amounting to a turnover of Rs 20.65 crore on Monday.

According to a report, NBCC has set a target of building 26,000 flats in the first phase. These include 7 projects spread across Noida and Greater Noida.

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.