NBCC Share Price ๐๐ฐ: A Record-Breaking Performance in Q3
๐ The state-owned NBCC Limited announced its financial results for the October-December quarter, and the numbers are impressive. The company’s net profit for the quarter increased by a staggering 59%, reaching โน113.56 crores. Last year, during the same quarter, NBCC had reported a net profit of โน71.49 crores.
๐น Revenue Surge: The total income for the third quarter of the financial year 2023-2024 also witnessed a significant rise. It increased from โน2,191.24 crores to โน2,471.51 crores, marking a growth of 12.77%.
๐ Strong Performance: NBCC’s net profit for the first nine months of the current financial year (April-December) has also seen a remarkable improvement. It surged to โน272.88 crores, compared to โน164.37 crores during the same period last year.
๐ Revenue Growth: The company’s total income for the first nine months of the financial year also witnessed a substantial increase, reaching โน6,566.41 crores. This represents a growth rate of 7.38% compared to the previous financial year.
๐ข NBCC’s Core Business: NBCC primarily operates in project management consultancy and real estate business sectors. The company has been actively involved in various government projects, including the affordable housing segment.
๐น Share Price Rally: NBCC’s shares witnessed a positive momentum on Thursday, as the stock price increased by 5.09% to โน137. This comes after the stock closed at โน124.55 on Tuesday, experiencing a slight decline of 6.46%. It is worth noting that this is the seventh trading day in a row where the stock has seen a decline.
๐ Strong Returns: In the first two trading sessions of February, NBCC’s stock delivered impressive returns of 10% and 19%, respectively. This rally was primarily driven by the government’s focus on affordable housing in the Union Budget 2024-2025.
๐ Recent Performance: Over the past 11 months, NBCC’s stock has delivered positive returns in 10 of them, resulting in an overall return of 289%. The stock recorded its best monthly performance in January, with a 59% increase. Additionally, it also witnessed returns of more than 16.6% and 16% in July and November, respectively.
๐ข About NBCC: NBCC Limited, a public sector undertaking established in 1960, earned the coveted ‘Navratna’ status in 2014. The company has been actively involved in infrastructure development and has played a crucial role in the nation’s growth story.
With the impressive financial results and positive market sentiment, NBCC seems to be on a steady growth trajectory. Investors and market enthusiasts are keeping a close eye on the company’s performance as it continues to make strides in the real estate and project management sectors.
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