From 89 Paise In 2001 This Multibagger Construction Company Stock Surges to Rs 160 Now – News18

Curated By: Business Desk

Last Updated: October 20, 2023, 13:16 IST

The stock has given more than 100% return in the last one year.

So far this year in 2023, the shares of NCC Ltd have gained nearly 85%.

Leading construction company NCC Ltd (earlier known as Nagarjuna Construction Company), which is involved in construction, irrigation, mining, and railway sectors, has been a profitable investment for long-term investors. The stock, previously valued at under one rupee, has now reached Rs 160 levels.

Over the past one year, the multibagger stock has given 114 percent return to the investors. According to a brokerage, the upward momentum of NCC shares remains strong, and there’s potential for a further 31 percent increase from the current level.

Shares of the company were trading 2.55 percent lower at Rs 154.75 apiece on BSE at 1:03 PM before hitting session’s high of Rs 160.70.

Over the past three months, the stock has seen more than 11 percent rally while in the past six months it has given 50 percent return to investors. So far this year in 2023, the shares of NCC Ltd have gained nearly 85 percent.

In the last three year period the multibagger stock has given an impressive 367 percent return.

NCC Ltd shares have indeed been highly profitable for long-term investors. Approximately 22 years ago, on October 5, 2001, the share price was at just 89 Paise. If an investor had invested Rs 55 thousand in this stock at that time and held onto it until now, their investment would have grown into nearly Rs 1 crore, as the share price has now risen to Rs 160 level. This demonstrates the significant long-term gains from investing in NCC shares.

As per a Moneycontrol report, brokerage Hem Securities has shared a positive outlook on the company’s future performance due to rising orders and improved work completion rates. The brokerage assigned a “buy” rating on the stock with a target price of Rs 213. This reflects their confidence in the company’s prospects for the upcoming quarters.

During the June quarter, NCC experienced significant growth, with its consolidated revenue rising 31.89 percent on a year-on-year basis to Rs 4,380 crore. The company’s profit increased 33 percent to Rs 409 crore during the same period. In the June quarter, NCC secured orders totalling Rs 8,154 crore, marking an impressive 83 percent annual increase, and its current order book stood at Rs 54,110 crore.