Multibagger Stock: NCC Limited Receives New Orders Worth Rs 8,398 Crore
Investors in NCC Limited are witnessing a tremendous turnover in the share price. Last week, the shares of NCC Ltd. were trading at Rs 177 with a gain of four percent. This positive news came after the company received four new orders worth Rs 8,398 crore. Investors quickly started buying stocks due to this development.
However, today the stock is experiencing selling pressure. NCC Ltd. announced in a stock exchange filing that it has received two orders worth Rs 2,822 crore from Maharashtra State Electricity Distribution Company, along with two orders worth Rs 2,933 crore. As a result, the shares of NCC Limited closed at Rs.166.00 with a fall of 2.90 percent.
Order details reveal that NCC Limited has received these orders for a period of 9 years and 3 months, including a seven-year operational and maintenance period. Both projects will be completed through a Special Purpose Vehicle (SPV). Additionally, the company has received its third order from North Bihar Power Distribution Company, valued at Rs 2,324 crore. NCC Limited will fulfill and execute this order itself. Furthermore, the company has received its fourth order from Bengaluru Electricity Supply Company, with a duration of 18 months.
In terms of return on investment, shares of NCC Limited were trading at Rs 176.60, up 4.12 percent on Friday. At the end of the day, the stock closed at Rs 169.60. Over the last year, the share price of NCC Limited Company has witnessed a remarkable increase of 140 percent. Moreover, the stock has yielded a return of 400 percent in the last three years, providing substantial earnings to its investors.
Stock market experts have set a target price of Rs 174 lakh for the share of NCC Limited Company, recommending investors to “buy” its shares. However, it is important to note that investing in mutual funds and the stock market carries risks. It is advisable to consult a financial advisor before making any investment decisions.
In conclusion, NCC Limited’s recent orders and impressive performance have positioned it as a multibagger stock for investment on September 4, 2023.
