Multibagger Navratna stock in news today on project win worth Rs 1,600 crore 

Shares of NBCC (India) are in news today after the PSU major said it has won a project valued at Rs 1,600 crore. NBCC will develop a prominent Land Parcel of MTNL measuring approximately 13.88 acres located on Pankha Road, New Delhi. 

The Navratna PSU stock closed 2.60% lower at Rs 175.75 on Wednesday. Shares of NBCC have zoomed 191.66% in a year and gained 114% in 2024. However, the multibagger stock saw high volatility with a beta of 1.6 in the last one year.

In terms of technicals, the relative strength index (RSI) of the NBCC stock stands at 45.8, 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 higher than the 100 day, 150 day and 200 day moving averages.

In the previous session, market cap of the firm stood at Rs 31,635 crore.

Total 9.35 lakh shares of the firm changed hands amounting to a turnover of Rs 16.61 crore on Wednesday.

"It is hereby informed that a Memorandum of Understanding (MoU) has been signed between NBCC (India) Limited and Mahanagar Telephone Nigam Limited (MTNL) on September 11, 2024 to collaborate to develop a prominent Land Parcel of MTNL measuring approximately 13.88 acres located on Pankha Road, New Delhi. This project aims to transform the land into a state of the art residential/commercial space, leveraging the expertise and resources of both organizations. The Project is valued at Rs. 1,600.00 crores approximately," said NBCC. 

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.