By Accommodation Times News Services
National Buildings Construction Corporation (NBCC) have received an order from Delhi Development Authority (DDA) for project development, which has railed their shares 5% to Rs 922 after the company announced that it has received an order from Delhi Development Authority (DDA) for project development.
“NBCC has been entrusted by DDA for development of Lake View Complex, based on Transit Oriented Development (TOD) norms on 25 acres DDA land at Trilokpuri, Delhi,” the company said in a BSE filing.
The estimated cost of construction will be approximately Rs 1,500 crore. The company will be doing project management consultancy, marketing and sales of the said project, the company added.
The stock opened at Rs 891 and hit a high of Rs 934 on the BSE. Till 1331 hours, a combined 2.36 million shares changed hands on the counter on the BSE and NSE.
Meanwhile, since June 15, the stock gained 22% from Rs 755 after the company said it procured 7612.86 square meter plot in Jaipur for the real estate project. The S&P BSE Sensex gained 4.7% during the same period.