NCC shares rise 5% on securing ₹1,286 crore road project order in Telangana

NCC Ltd shares rose as much as 5 per cent in Friday’s trade after the civil construction company received an order worth ₹1,286.03 crore from Hyderabad Growth Corridor Limited.

The stock opened higher, gaining 4 per cent to trade at ₹125, before extending its gains to hit an intraday high of ₹127.74 on the NSE.

Around 1 PM, nearly 14 million shares of the smallcap had changed hands on the NSE. At the time, the stock was trading 3.3 per cent higher at ₹123.88.

In comparison, the benchmark Nifty 50 index was trading 278 points, 1.25 per cent northward at 22,510. 

According to an exchange filing, NCC has received a Letter of Acceptance (LoA) from Hyderabad Growth Corridor Limited for a road construction project worth ₹1,286.03 crore in Telangana.

The nature of order includes the construction of Radial Road-2 from Outer Ring Road (ORR) near Budwel to Nacharam on NH-167N (Package-1 - Budwel to Shabad), Telangana. The order will be executed within 8 months from the date of award.