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NBCC shares surged on Thursday after the state-run building firm bagged a venture administration consultancy order value Rs 180 crore from PSU metal main SAIL. The NBCC inventory gained by as a lot as Rs 6, or 10.7 per cent, to Rs 62.3 apiece in morning offers on BSE, coming inside inches of a 52-week excessive touched final week.
In a regulatory submitting post-market hours on Wednesday, NBCC stated the deal concerned consultancy and administration companies for the upcoming infrastructure-related tasks of SAIL’s Bokaro Metal unit. The corporate stated the timeline of the order was but to be determined.
NBCC additionally stated, in a separate submitting, that it had signed a memorandum of understanding (MoU) with the metal ministry, Rashtriya Ispat Nigam Ltd (RINL) and Nationwide Land Monetization Corp Ltd (NLMC) for the monetisation of RINL’s non-core property at Visakhapatnam, Andhra Pradesh. As per the settlement, NBCC will act as a technical and transactional advisor.
(This story shall be up to date shortly)
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