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“We are pleased to inform that, the Company has received Letter of Acceptance (LoA) dated November 28, 2024 from Ken-Betwa Link Project Authority regarding selection of the Company as the successful bidder for the EPC execution of Daudhan Dam under Ken-Betwa Link Project,” said in an exchange filing.
Under the terms of the order, the company will be responsible for the planning, design and engineering and hydro-mechanical works on engineering, procurement and construction (EPC) basis.
The company is expected to complete the project in 72 months.
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NCC, established in 1978, specializes in turnkey EPC contracts and Build-Operate-Transfer (BOT) projects under Public-Private Partnership (PPP) models. The company operates across a variety of sectors, including road construction, water management, building projects, railways, and more.
As per Trendlyne data, the average target price of the stock is Rs 361, which indicates an upside of 17% from the current market prices. The consensus recommendation from 13 analysts for the stock is a ‘Buy’.
In technical terms, the relative strength index (RSI) of the stock is currently at 55, signalling it’s neither trading in the overbought nor in the oversold territory. Additionally, the MACD is at -3.3, which is below its center line, this is a bearish indicator. The stock has a one-year beta of 2, indicating very high volatility during the period.
At 11:15 am, the scrip was trading 1.75% higher at Rs 308 on BSE. Its shares have surged 85% in 2024 to date and 270% over the past two years, with the company currently holding a market capitalization of Rs 19,337 crore.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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