Multibagger Construction Stock Jumps 4%, HDFC Securities Sees 40.47% More Rally; Buy

Shares of mid cap multibagger construction stock, NCC Ltd soared 4.51% intraday today to 164.45 per share. Meanwhile, brokerage firm HDFC Securities is bullish on NCC shares and sees yet another upside of 40.47%. The brokerage firm has assigned buy call to NCC shares with target price of Rs 231 per share. Current market price of NCC stock on BSE is Rs 164.45 per share. If you buy NCC shares now at the current market price, you can fetch potential return of 40.47%. Check details below:

NCC Stock Performance & Return: Current market price of NCC share on BSE is Rs 164.45 per share with intraday gain of 4.51%. Its 52-week high price is Rs 176.95 per share and 52-week low price is Rs 71.40 per share, respectively. The company has a market capitalisation of Rs 10,324.94 crore. NCC shares offered multibagger returns to investors over the years. NCC shares soared 79% YTD, gained 129% in last 1-year, and jumped 321% in last 3-years.

NCC Valuation: According to the analyst, "Given the all-time high order book, execution ramp-up, and robust balance sheet, we recalibrate FY24/25/26E estimates higher and increase our TP to INR 231/sh (13x Sep-25E EPS). We maintain our BUY rating on NCC."

NCC reported an all-round outperformance in Q2FY24, beating our estimates on all fronts. During the quarter, it received an arbitration award of INR 1.98bn out of INR 6.1bn receivable from Sembcorp and another claim settlement of INR 1.5bn from NHAI. Further, pending legal proceedings, it charged INR 3.5bn (net-off provisions) from revenue from operations, added the analyst.

Shares of mid cap construction company, NCC Limited on Friday hit fresh 52-week high on Friday soon after it informed the exchange of receiving order worth Rs 8398 crore. NCC Limited shares gained 136% in last 1-year and soared 87% in last 6-months. Current market price of NCC Limited stock on BSE is Rs 170.20 apiece with intraday gain of 0.88%. The stock witnessed a 52-week high again on August 31. NCC Limited shares traded ex-dividend on August 25 for Rs 2.20 per share dividend. Check details below:

NCC About: NCC has ventured into diverse sectors of construction and infrastructural development. Spanning across the nation, its construction activities are covered under buildings, transportation, water & environment, electrical (T&D), irrigation, mining and railways sectors, according to its official website.

Disclaimer

The stock has been picked from the brokerage report of HDFC Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.