NCC Ltd Share Price – NSE  /  BSE

Construction, Small Cap

The headline equity benchmarks traded with modest gains in the mid-afternoon trade. The Sensex and the Nifty, both, attained record high levels in morning trade. The Nifty traded above the 22,450 mark. PSU bank shares rallied for the second day in a row.

At 14:27 IST, the barometer index, the S&P BSE Sensex, was up 343.87 points or 0.47% to 73,995.22. The Nifty 50 index rose 133.75 points or 0.61% to 22,460.65.

The Sensex and Nifty clocked an all-time high of 74,254.62 and 22,529.95, respectively in morning trade.

The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index added 1.45% and the S&P BSE Small-Cap index gained 2.64%.

The market breadth was strong. On the BSE, 3,156 shares rose and 700 shares fell. A total of 147 shares were unchanged.

Economy:

India’s forex reserves rose $140 million during the week ended March 22 to touch its all-time high of $642.631 billion, according to the latest RBI data. This is the fifth consecutive week of a jump in the overall reserves.

For the week ended March 22, the foreign currency assets decreased by $123 million to $568.264 billion. Gold reserves rose $347 million to $51.487 billion during the week. The special drawing rights (SDRs) were down by $57 million to $18.219 billion, the RBI said.

India’s reserve position with the IMF was also down by $27 million to $4.662 billion in the reporting week, the RBI data showed.

Meanwhile, the combined Index of Eight Core Industries (ICI) increased by 6.7% (provisional) in February 2024 as compared to the Index of February 2023. The final growth rate of Index of Eight Core Industries for November 2023 is revised to 7.9%. The cumulative growth rate of ICI during April to February, 2023-24 is 7.7% (provisional) as compared to the corresponding period of last year.

Buzzing Index:

The Nifty PSU Bank Index gained 1.33% to 7,100.60. The index rallied 3.81% in the two trading session.

Indian Overseas Bank (up 6.59%), Punjab & Sind Bank (up 5.44%), Central Bank of India (up 5.27%), UCO Bank (up 5.17%), Bank of Maharashtra (up 4.49%), Bank of India (up 3.58%), Indian Bank (up 1.7%), Union Bank of India (up 1.6%), Punjab National Bank (up 1.29%) and Canara Bank (up 1.15%) advanced.

Numbers to Track:

MCX Gold futures for 5 April 2024 settlement rose 1.53% to Rs 68,712.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.05% to 104.50.

The United States 10-year bond yield rose 0.07% to 4.198.

In the commodities market, Brent crude for June 2024 settlement added 30 cents or 0.34% to $87.30 a barrel.

Stocks in spotlight:

NCC rallied 4.13% after the company said that it has received new orders worth Rs 3,086 crore in the month of March, 2024.

Imagicaaworld Entertainment jumped 6.16% after the company announced the execution of definitive agreements for acquisition of 4 high quality parks operated by Malpani Group.

Datamatics Global Services zoomed 6.79% after the company announced the acquisition of Dextara Digital, a premier provider of Salesforce services.

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Out of them, Rs 1,589 crore relates to Electrical division, Rs 1,330 crore rerates to Transportation division and Rs 167 crore relates to Building division.

The orders that have been received are from state government entities and private limited company and do not include any internal orders.

During the financial year 2023-24, the company has secured orders totalling to around Rs 26,000 crore and achieved the guidance given by the management, at the beginning of the financial year,” NCC said in a statement.

NCC is engaged in the infrastructure sector, primarily in the construction of industrial and commercial buildings, housing project, roads, bridges and flyovers, water supply and environment projects, mining, power transmission lines, irrigation and hydrothermal power projects, etc.

The company reported 39.91% jump in consolidated net profit to Rs 220.65 crore on 34.54% increase in revenue from operations to Rs 5,260.08 crore in Q3 FY24 over Q3 FY23.

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NCC has received orders worth Rs 3,086 crore in the month of March 2024.

Out of them, Rs 1,589 crore relates to electrical division, Rs 1,330 crore relates to transportation division and Rs 167 crore relates to building division.

During the financial year 2023-24, the company has secured total orders of Rs 26,000 crore and achieved the guidance given by the management at the beginning of the financial year.

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NCC has received the credit rating CARE AA-;Stable / CARE A1+ for bank facilities and commercial paper availed by the company.

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