NBCC (India) Ltd witnessed a 4% rise in its stock price after signing a Memorandum of Understanding (MoU) with the Housing and Urban Development Corporation (HUDCO). The collaboration is for the development of a 10-acre institutional plot in Noida’s Sector-62.
As per the regulatory filing, NBCC will act as the Project Management Consultant (PMC) for the project, which is estimated to cost around ₹600 crore. This strategic partnership underscores NBCC’s expertise in project management and its role in driving significant infrastructure initiatives.
The development in Noida’s Sector-62, a prime institutional and commercial hub, is expected to attract attention from investors and stakeholders.
This announcement has boosted investor confidence, leading to an uptick in NBCC’s stock performance. The market’s positive response reflects the company’s continued efforts to expand its portfolio and strengthen its footprint in the infrastructure sector.
As of 9:23 am, NBCC shares were trading 4.60% higher at Rs 100.08 on the NSE.
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