NBCC hits new high and slips into red

National Buildings Construction Corporatio (NBCC) has been consistently hitting new highs since the12th of Sept and today too, it hit a new high at Rs.709 though it has currently slipped into the red at Rs.684 levels.

NBCC is a Navratna PSU and it is the field of civil engineering, working on projects such as chimneys, cooling towers, and various types of power plant works.  The company is fundamentally very sound and it is reacting to various brokerage houses recommending the stock. And recently, the company CMD was quoted saying that the company has orders in the pipeline valuing around Rs.30,000 to Rs.40,000 crore. Its current order book is at Rs.17,000 crore.

The company was recently given the mandate to develop Waqf properties, which is spread all across India, totaling over 6 lakh acres, most located on prime land. This development alone is expected to fetch the company huge gains over the next few years