NBCC (India) scales record high as firm may acquire 3 PSUs
The stock had hit 52-week low of Rs 133.13 on November 9, 2016.
By ETMarkets.com | Updated:
NEW DELHI: Shares of NBCC (India) scaled fresh record high of Rs 248.85 in morning trade on Friday after reports that the state-run developer may acquire three other government-owned entities to create a mega construction company.
The scrip was trading 1.30 per cent up at Rs 245.10 around 9.55 am (IST). It eventually ended at Rs 242.80, up 0.35 per cent on BSE. Shares of the company opened at Rs 244.30 and touched a high and low of Rs 248.85 and Rs 241.40, respectively.
The three that the NBCC could acquire include Engineering Projects (India), Hindustan Prefab and Hospital Services Consultancy Corporation (India) Limited (HSCC).
The government has already invited expressions of interest (EOI) from similarly placed central public sector enterprises (CPSEs) for strategic sales in HSCC and National Projects Construction Corporation Ltd. The government is looking to sell its entire stake in all these companies.
The stock had hit 52-week low of Rs 133.13 on November 9, 2016.
On the BSE, 2.21 lakh shares were traded on the counter so far as against the average daily volumes of 2.42 lakh shares in the past two weeks.
The scrip was trading 1.30 per cent up at Rs 245.10 around 9.55 am (IST). It eventually ended at Rs 242.80, up 0.35 per cent on BSE. Shares of the company opened at Rs 244.30 and touched a high and low of Rs 248.85 and Rs 241.40, respectively.
The three that the NBCC could acquire include Engineering Projects (India), Hindustan Prefab and Hospital Services Consultancy Corporation (India) Limited (HSCC).
The government has already invited expressions of interest (EOI) from similarly placed central public sector enterprises (CPSEs) for strategic sales in HSCC and National Projects Construction Corporation Ltd. The government is looking to sell its entire stake in all these companies.
The stock had hit 52-week low of Rs 133.13 on November 9, 2016.
On the BSE, 2.21 lakh shares were traded on the counter so far as against the average daily volumes of 2.42 lakh shares in the past two weeks.
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