Government Construction company NBCC gets contract of 15,000 rupees project: Public sector construction company NBCC has got the contract for a very big project. As soon as the news of the contract was received, investors rushed to buy the company’s shares, which led to a sudden sharp rise in the share price. The government construction company has given some information related to this contract to the share market exchange. The company informed that it has got the project to develop a satellite township on 406 acres in Srinagar.
Contract worth Rs 15,000 crore received from Srinagar Development Authority
NBCC said in a filing to the stock market exchanges BSE and NSE that the Srinagar Development Authority has awarded it a contract of Rs 15,000 crore for this project. Under this project, NBCC has to build a satellite township on 406 acres in Bemina, Srinagar, Jammu and Kashmir.
There was a sharp jump in the share price immediately after 10.46 a.m.
As soon as the news of this huge contract received by NBCC was received, there was a rush among the investors to buy the company’s shares. The company informed the stock market exchange about the contract at 10.46 am on Friday. As soon as this information came in the public domain, there was a sudden surge in the purchase of shares from 10.46 am onwards and investors rushed to buy NBCC shares.
Share price reached Rs 188.50
As soon as there was a rush to buy the company’s shares, the share price reached Rs 188.50 in no time. By 02.13 pm, NBCC shares were trading at Rs 184.10 with a gain of Rs 15.20 (9.00%). Let us tell you that the 52 Week High of the company’s shares is Rs 198.25. According to BSE data, the current market cap of government construction company NBCC is Rs 33,075 It is Rs crore.
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