Nagarjuna Construction surges on winning orders worth Rs 1,221 crore
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Nagarjuna Construction Company has won new orders worth Rs 1,221 crore. The scrip is currently trading at Rs 163.65 per share, up 4.25 points or 2.67% on the BSE
The stock opened at Rs 161.55 as compared to its previous close of Rs 159.40. Intraday, the counter has touched a high and a low of Rs 165.50 and Rs 161.20, respectively.
So far, 1,49,000 shares of the company were traded on the BSE.
The stock of the face value of Rs 2 touched its 52-week high of Rs 183.80 on October 15, 2009 and a 52-week low of Rs 35.50 on March 6, 2009.
These orders include two orders valued at Rs 647 crore from the Hyderabad Growth Corridor for construction of Access Controlled Expressway as outer ring road to Hyderabad City (completion period – 30 months), three orders valued at Rs 358 crore from Maharashtra State Electricity Distribution Co — Mumbai for turnkey contract (completion period – 30 months), one order worth Rs 99 crore from the state-run National Thermal Power Corporation (NTPC) for construction of CW system and make up water system at Barh STPP, Bihar (completion period – 30 months), one order worth Rs 63 crore from the another PSU Indian Oil Corporation (IOC) for construction of unit substation buildings at Paradip, Orissa (completion period – 12 months) and an order valued at Rs 54 crore from the National Institute of Technology, Tripura for construction of housing, guest house, directors residence, etc at Agartala (completion period – 21 months).
Recently, Nagarjuna Construction Company had secured five orders aggregating Rs 583 crore.
Nagarjuna Construction Company is engaged in development of real estate. The activities of the company ranges from building skyscrapers, underground drainage systems, apartments to bridges, stadiums, roads and farms.
The promoters holding in the company as per the December 2009 quarter stood at 20.23%, FIIs and DIIs held 35.28% and 22.04% respectively, while others were holding 22.45% in the company.
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