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Shares of NBCC have added 3.53% in two sessions from its recent closing of Rs 28.30 4 December 2020.
On a year-to-date (YTD) basis, the stock has lost 15.78% while the benchmark Sensex has risen 10.82% during the same period.
On the technical front, the stock's RSI (relative strength index) stood at 76.099 on BSE. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day, 100-day and 200-day daily simple moving average (SMA) placed at 24.30, 25.02 and 23.13, respectively. These levels will act as crucial support zones in near term.
NBCC (India) provides civil engineering construction services. The firm operates through three segment viz., project management consultancy (PMC), real estate development & engineering, procurement and construction (EPC). As of 30 September 2020, the Government of India held 61.75% stake in the company.
On a consolidated basis, the company reported net profit of Rs 45.61 crore in Q2 September 2020 as compared to a net loss of Rs 90.91 crore in Q2 September 2019. Net sales declined 17.9% to Rs 1,360.12 crore in Q2 September 2020 over Q2 September 2019.
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