This stock sees biggest intraday jump in 5 years on govt's realty booster

NEW DELHI: Shares of NBCC witnessed their biggest single-day gain in more than 5 years on Thursday after the government late last evening approved a Rs 25,000 crore fund to help complete over 1,600 stalled housing projects.

This also includes those projects that have been declared NPAs or admitted for insolvency proceedings.

The scrip advanced as much as 17 per cent to Rs 45 in the morning trade. Prior to this rally, the scrip had witnessed a jump of 20 per cent intraday in September 2014.


Commenting on the government’s booster dose to the stressed real estate sector, PK Gupta, CMC, NBCC in an exclusive interaction with ETNow said the government’s relief for the sector will be beneficial for the company. “We expect to get some stalled real estate projects and will earn well from those as well,” Gupta said.

Gupta added that the company has maximum presence in NCR but they are ready to take projects in other metros also.

The shares of the company closed 8.20 per cent higher at Rs 41.55 on BSE.