NCC shares jump 4% as company secures orders worth Rs 3,086 crore in March

Rekha Jhunjhunwala portfolio stock NCC Ltd traded higher in Monday's session after the company announced it received new orders worth Rs 3,086 crore in the month of March this year. The stock surged 4.37 per cent to hit a day high of Rs 242.55.

"NCC Ltd has received new orders worth Rs 3,086 crore (excluding GST) in the month of March, 2024. Out of them, Rs 1,589 crore relates to electrical division, Rs 1,330 crore relates to transportation division and Rs 167 crore relates to building division," it stated.

The orders are received from state government entities and private limited company and does not include any internal orders, NCC added.

During the financial year 2023-24, the company has secured orders totalling to around Rs 26,000 crore and achieved the guidance given by the management, at the beginning of the financial year, it further mentioned.

On BSE, there were 1,29,666 sell orders against buy orders of 76,840 shares. NCC was last seen trading higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). The counter's 14-day relative strength index (RSI) came at 53.42. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The company's stock has a price-to-equity (P/E) ratio of 26.05.

Rekha Jhunjhunwala, wife of late investor Rakesh Jhunjhunwala, held a 13.09 per cent stake or 8.21 crore shares of NCC at the end of December quarter.