Midcap Navratna CPSE Inks MoU With Ministry of Steel, RINL And NLMC, Stock Rallies

NBCC (India) Limited, a Govt. Enterprise, on Wednesday, announced that the company has signed a quadripartite MoU with the Ministry of Steel (MoS) Govt. Of India, Rashtriya Ispat Nigam Ltd. (RINL) and National Land Monetization Corp. Ltd. (NLMC) for Monetization of the Non-core assets of RINL at Vishakhapatnam.

According to the filing, under the MoU, NBCC would act as Technical cum Transaction Advisor and assist MoS, RINL, and NLMC in the monetization of Non-core assets of RINL avail a bleat Vishakhapatnam.

Meanwhile, the shares of NBCC (India) on Wednesday, closed 2.76% higher at Rs 56.23 apiece on the BSE. The stock touched an intraday high of Rs 56.95 and an intraday low of Rs 53.50.

The stock declined 5.92% in the past 1 week. It gained 15.27% in the past 1 month. It gained 57.73% in 1 year, 30.16% in 2 years, and 115.44% in the 3 years, respectively. It declined 15.89% in the past 5 years.

NBCC (India) Limited is a Government of India Navratna Enterprise under the Ministry of Housing and Urban Affairs. The Co. operates in three major segments - Project Management Consultancy, Engineering Procurement and construction, and Real Estate. The company has a market cap of Rs 10,121.40 Crore. It is a midcap company.