NBCC shares in the spotlight after getting contracts worth Rs 658 crore in Uttarakhand and Delhi
NBCC shares will be in the spotlight on Wednesday after the state-owned company earned contracts totaling Rs 658 crore in Uttarakhand and Delhi.
The Uttarakhand Investment and Infrastructure Board awarded the business a contract of Rs 439 crore for numerous rehabilitation projects in Haridwar. These include the Rodi Belwala Area Revitalisation, Sati Kund Development, Har Ki Pauri, and Subhash Ghat Revitalisation, and the renovation of a parking and commercial area near the train station. Additionally, the Centre for Development of Telematics in Delhi awarded NBCC a contract of Rs 219.45 crore. The organization will provide project management consultant services for designing, monitoring, and constructing several structures on the C-DOT Campus in Mehrauli, including a data center, housing, dormitories, and technical blocks.
NBCC shares’ Goal:
According to Trendlyne statistics, the average target price for the stock is Rs 118, representing a 42% increase over current market prices. The consensus rating from three analysts on the stock is ‘Hold.’ Technically, the stock’s relative strength index (RSI) is at 52.6. The trendline defines oversold situations as an RSI below 30, while overbought conditions are indicated by an RSI more significant than 70. Additionally, the MACD is at -1.4, below its center line, indicating a bearish trend. NBCC shares are trading above their 10-day, 20-day, and 30-day simple moving averages (SMAs) but are still below the 5-day, 50-day, 100-day, 150-day, and 200-day SMAs.
