NCC secures Rs 3,496 crore in new contracts for October 2024

Shares of NCC Limited traded slightly higher after the company announced multiple contract wins totalling Rs 3,496 crore in October. These contracts were awarded by central and state government agencies and private firms, covering a range of divisions, including Building, Electrical, and Water.

Diverse project wins strengthen order book 

The Building Division led NCC’s new contract inflows, securing projects valued at Rs 2,694 crore. The Electrical Division followed with orders worth Rs 538 crore, and the Water & Other Divisions secured contracts worth Rs 274 crore. With these awards, NCC continues to strengthen its position across infrastructure sectors. The company stated that all projects have timelines ranging from six months to six years, ensuring a steady pipeline for sustained growth.

Strong market performance and future outlook 

Trading at Rs 313 on the NSE, NCC shares have climbed nearly eighty-five per cent this year, significantly outperforming the Nifty's ten per cent gain. Over the past twelve months, the stock has seen a remarkable increase of one hundred and three per cent, doubling investors’ capital. Analysts at HDFC Securities included NCC in their top Diwali picks, citing its diversified order book, execution capabilities, and focus on debt reduction. With ongoing government initiatives boosting infrastructure development, NCC's growth outlook remains strong.