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Hot Pursuit
14-Dec-23
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NBCC soars after bagging Rs 1,500 crore contract from NCDC, PACS
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NBCC (India) jumped 5.14% to Rs 84.29 after the company said that it has bagged a construction order from National Cooperative Development Corporation (NCDC) and Primary Agriculture Cooperative Society (PACS) in various States worth Rs 1,500 crore.
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National Cooperative Development Corporation is a statutory corporation under the Ministry of Cooperation.
The EPC contract involves construction of 1,469 warehouses and other agri-infrastructure under the World's Largest Grain Storage Plan in the Cooperative Sector at various locations across India.
NBCC (India) provides civil engineering construction services. As on 30 June 2023, the Government of India held 61.75% stake in NBCC (India).
The company's consolidated net profit had declined 16.62% to Rs 79.59 crore despite a 1.72% rise in sales to Rs 2,047.70 crore in Q2 FY24 over Q2 FY23.
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