ICICI Direct Lists Multibagger Construction Dividend Stock To Buy, Target Price Rs 170

ICICI Direct has recommended investors to buy mid cap stock operating in construction sector, NCC Limited with target price of Rs 170 per share. If you buy NCC Limited shares at last trading price of Rs 137.25 per share, you can fetch likely gain of 24.09%. Board of directors of NCC Limited recommended dividend of Rs 2.20 per equity share of the face value of Rs 2/- each for the financial year 2022-23. The board fixed August 25, 2023 as the record date for dividend. Check details below:

NCC Limited Bags New Orders Worth Rs 2055 Crore In June: As per the BSE filing of NCC Limited, "NCC Limited has received new orders t 2055 Crore (Excluding GST) in the month of June'2023. Out of these orders two orders valuing Rs 1335 crores relating to Building Division, one order valuing Rs 720 crores relating to Electrical Division. These orders are received from Private and State government agencies and does not include any internalorders."

NCC Limited Stock Performance & Return: The last trading price of NCC Limited share is Rs 137.25 per share on BSE as of July 14, 2023. The stock's 52-week high price is Rs 138.95 per share and 52-week low price is Rs 55.60 per share, respectively. Its market capitalisation is Rs 8617.19 crore. NCC Limited shares delivered 140% return in last 1-year, jumped 48% in last 2-years, and offered 332% return in last 3-years. NCC Limited stock rallied 46% in last 6-months.

NCC Limited Valuation: According to the analyst, "We maintain our BUY rating. We value NCC at Rs 170 per share (based on 12x FY25 P/E). NCC is a key beneficiary of the tailwinds in the buildings, roads, water, mining and electrical segments. Given the strong order book visibility, and improving balance sheet strength, it is poised for a strong growth ahead."

About NCC: NCC is one of the leading construction companies with presence across varied verticals of infrastructure space such as buildings, roads, water, mining and electrical. Consolidated order book stood at Rs 50,244 crore as of FY23.

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