NBCC Share Price Target NSE, BSE: State-owned company gets nod to build project worth Rs 10,000 crore

NBCC Shares Price Target NSE, BSE: State-owned construction major NBCC has got the in-principal approval of the Greater Noida Authority to develop five Amrapali housing projects. According to the company, these five projects are worth Rs 10,000 crore.

"NBCC (India) Limited has obtained in-principle approval from the Greater Noida Authority for the development of unused and purchasable FAR in furtherance of the existing projects of Amrapali valuing Rs 10,000 crore (approx)," the company said in a stock exchange filing.

The NBCC was assigned as the project management consultant (PMC) after a Supreme Court judgment in 2019 to finish the 25 stalled Amrapali projects, which include around 38,500 flats.

The five projects that NBCC will develop are - 

1. Centurian Park, GH-05, Sector Tech Zone-IV, Greater Noida

2. Golf Homes, GH-02, Sector-4, Greater Noida

3. Leisure Park, GH-01, Tech Zone-IV, Greater Noida 

4. Leisure Valley, GH-02, Tech Zone-IV, Greater Noida

5. Dream Valley, GH-09, Tech Zone-IV, Greater Noida

Meanwhile, the share of NBCC had ended Wednesday's session at Rs 139.30 and fell after two days of consecutive gain. However, the counter had touched an intraday high of Rs 145.6. 

 
NBCC Shares Price Target NSE, BSE:

According to market expert Vikas Sethi, the approval for the Rs 10,000 crore project is a positive trigger for the stock.

"NBCC performed very well in the third quarter and this company has got approval from Greater Noida Authority for a project worth Rs 10,000 and that is why it is my pick of the day," Sethi said.

NBCC Shares Price Target NSE, BSE: Rs 147

Stoploss - Rs 136

NBCC Share Price History

NBCC shares have given multibagger returns to its investors. The stock has rallied more than 319 per cent in one year as against a 20.91 per cent jump in Sensex. The counter has jumped 36.88 per cent in the last one month.

NBCC Dividend History

The state-run company announced a final dividend of Rs 0.54 in September last year. Below is the history of the dividend declared: