Navratna PSU stock, NBCC (India) Ltd is among the technical picks of Prabhudas Lilladher. The moving averages of NBCC are showing an uptrend trend in the coming days. Prabhudas has set a target price of Rs 159, hinting at a nearly 18% potential upside in this PSU stock in the near term.
NBCC Share Price:
NBCC's share traded at Rs 135.05 apiece, down by 1.03% on BSE with a market cap of Rs 24,309 crore, at the time of writing on Friday.
Although NBCC is down by about 23% from its 52-week high of Rs 176.50 apiece, the stock is still a multi-bagger with gains of a whopping 261.5% from its 52-week low of Rs 37.36 apiece.
With the latest drop in NBCC, there is a buy-on-dips opportunity currently to fetch double-digit returns in the stock in the near term.
In the past 5 trading sessions, NBCC shares have gained by 7% on BSE, while in a month and six months, the upside is around 16% and 112% respectively.
YTD, NBCC shares are up by 65%. In a year, the gains are massive by 256%.
NBCC Share Price Target Of Prabhudas Lilladher:
In its technical pick note, Prabhudas Lilladher said, "The stock has gained strength after the consolidation witnessed and a decent pullback to move past the significant 50EMA level of 119 has improved with the bias to anticipate further rise in the coming days."
Also, the brokerage highlighted that the RSI is on the rise and has already indicated a trend reversal with much upside potential to carry on with the positive move further ahead."
Accordingly, Prabhudas suggests buying the stock for an upside target of 159 keeping the stop loss of 124.
NBCC (India) Dividend:
NBCC has a strong track record of rewarding investors with dividend payout. As per the Trendline data, the company delivered 14 dividends since August 2012. At the latest, the company paid a dividend of Rs 0.54 per share in the last 12 months.
It has a dividend yield of 0.40%.
NBCC (India) Stock Split:
Unlike many other Navratna PSU, NBCC has split its shares twice. The first stock split was of a ratio of 1:5 in June 2016, where 1 existing share with a face value of Rs 10 each was trimmed to 5 smaller shares having a face value of Rs 2 each.
Later, NBCC also split by 1:2 in April 2018, where its face value of Rs 2 halved to Rs 1 each, while the number of shares doubled in investors' portfolios.
NBCC (India) Bonus Issue:
The government-backed NBCC has issued 1 bonus share in the ratio of 1:2. For this, the company turned ex-bonus in February 2017.
NBCC (India) Earnings:
NBCC will announce its Q4 earnings for FY24 soon. In Q3FY24, the company earned PAT of Rs 113.56 crore on a consolidated basis, compared to profits of Rs 71.49 crore in Q3FY23 and Rs 81.90 crore in Q2FY24.
Consolidated revenue stood at Rs 2,405.50 crore in Q3FY24, also up as against Rs 2,116.49 crore in Q3FY23, and Rs 2,047.70 crore in Q2FY24.
About NBCC (India):
Founded in 1960 as a Govt. of India Civil Engineering Enterprise, NBCC with its Headquarter in Delhi, holds the status of Navratna CPSE, and has emerged as the undisputed leader in the Construction Sector on the back of its capabilities, innovative approach, adherence to highest standard of quality, timely delivery and a dedicated workforce.
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