NBCC, a government infrastructure and housing projects company, saw a 30% increase in share price with the news of bagging a Rs 180 crore order from SAIL. This recent order is worth 0.45 times the company's current market capitalisation, leading to a fresh 52-week high for NBCC shares. The positive news led to a surge in global markets as well, with the Sensex and Nifty expected to open with higher numbers. However, residents of NBCC Green View housing complex may have to vacate their flats by March 2022, causing concern for some.
National Buildings Construction Corporation (NBCC), a leading infrastructure and housing project company in India, has witnessed a significant surge in its share price following an announcement of a major contract.
On February 23, 2023, NBCC announced that it had bagged a contract worth Rs 180 crore from Steel Authority of India Limited (SAIL). The project involves the construction of 1,470 dwelling units for SAIL employees in Rourkela, Odisha.
This contract represents approximately 0.45 times NBCC's current market capitalization. The positive news has led to a fresh 52-week high for NBCC shares, with the stock price rising by over 30%.
The announcement of the contract has also had a positive impact on the global markets. The Sensex and Nifty, India's benchmark stock indices, are expected to open higher on Monday, February 27, 2023, due to the positive sentiment surrounding NBCC's order win.
While the share price surge is positive news for NBCC investors, residents of the NBCC Green View housing complex in Delhi may face some concerns. The company has served eviction notices to the residents, ordering them to vacate their flats by March 2022.
This decision stems from a legal dispute between NBCC and the residents over the ownership of the flats. The complex was originally intended for employees of the National Building Organization (NBO), but NBCC claims that the flats were illegally occupied by others.
1. What is NBCC? NBCC is India's leading infrastructure and housing project company, with a focus on commercial, industrial, residential, and public buildings.
2. Why did the NBCC share price surge? NBCC's share price surged after the announcement of a major contract from SAIL.
3. What is the impact of the contract on NBCC's market capitalization? The contract is worth approximately 0.45 times NBCC's current market capitalization.
4. What is the situation with the NBCC Green View housing complex? Residents of the NBCC Green View housing complex have been ordered to vacate their flats by March 2022 due to an ownership dispute.
5. What is the outlook for NBCC shares? Analysts generally have a positive outlook for NBCC shares due to its strong order book and pipeline of projects.
The wait for the updated Yezdi Adventure is finally over as iconic brand Classic Legends announced the official launch date for the updated version. The highly anticipated model is expected to receive a unique twin headlamp design with an asymmetric theme, reminiscent of BMW GS models. This design overhaul was initially planned for last year but was postponed due to development issues. With the new design and no changes in the engine specifications, the Yezdi Adventure is set to make a comeback into the market on June 4.
In a bold move by IRCTC, over 2.5 crore user IDs have been disabled due to suspected involvement in ticketing fraud. This decision comes as a response to a viral post by lawyer Sonu Nigam, who highlighted the woes of booking Tatkal tickets on social media. With evidence of agents using technology to secure tickets, this raises serious questions on the fairness of the Tatkal system and the unequal access it provides for ordinary users.
A recent national survey has revealed that the Indian Railways' Tatkal ticket booking scheme, introduced to assist urgent travellers, has now become a nightmare for many passengers. Despite efforts to prevent touts and ensure fair access, travellers struggle to book tickets online and often end up waitlisted. An earlier investigation found agents and railway staff taking advantage of loopholes to sell Tatkal tickets at higher prices. With high demand and inflated prices, the scheme has become a burden for passengers, who now fear a similar situation may be happening again.
Lulu Malls India, owned by Lulu Group International, has received three top honours at the ICSC Global MAXI Awards 2025, showcasing their excellence in marketing and emotional connections with audiences. The awards were presented at the prestigious ICSC Global Conference in Las Vegas, where Lulu Malls competed with top shopping centers from 15 countries. This recognition reinforces Lulu Malls' commitment to pushing boundaries and delivering exceptional experiences for their customers.
The Indian government has joined the ongoing discourse surrounding copyright issues with their latest initiative, PB-SHABD (Prasar Bharati - Shared Audio-Visuals for Broadcast and Dissemination). Through this, Prasar Bharati is offering free services and resources to creators such as YouTubers, podcasters and video editors, including safe and authentic content. This initiative aims to address concerns around copyright strikes and promote creativity without fear of infringement.
The Board of Control for Cricket in India (BCCI) has recently announced securing copyrights for the year 2025, solidifying their position in the business world. This move allows the BCCI to explore new business ventures and opportunities for growth while maintaining their rights over the use of their intellectual property. With the copyrights in place, the BCCI has set itself up for future success and endeavors to continue being a prominent force in the business industry.
After over two years of construction, the Delhi government has announced the eagerly awaited inauguration of the Ashram flyover extension on March 06, 2023. The six-lane extension, which cost Rs 128.25 crore, will provide a faster and smoother commute, reducing travel time and congestion for nearly 13,500 vehicles during peak hours. This is part of Delhi's larger plan to revamp its roads, with an initial budget of Rs 4,500 crore and an annual expenditure of Rs 2,000 crore in the future.
In a timely decision, the WHO has urged governments to ban all flavours in tobacco and nicotine products, including cigarettes, pouches, hookahs, and e-cigarettes, a day before World No Tobacco Day. The use of flavours masks the harshness of these products, making them more appealing to the youth and leading to addiction and serious health problems. The publication by WHO reveals the tactics used by the tobacco industry to attract new users and calls for bold action to address this global epidemic.
Anmol Singh Jaggi and Puneet Singh Jaggi, co-founders of Gensol Group, have resigned after SEBI barred them from securities market over allegations of a massive loan fraud. The brothers allegedly diverted a significant portion of Rs 978 crore, meant for buying electric vehicles, for personal use. This scandal not only puts a question mark on their integrity but also adversely affects their other venture, BluSmart - India's first all-electric cab service.
In a recent podcast with Sri Adhikari Brothers' MD Kailash Adhikari, Ashish Kumar Chauhan, MD and CEO of NSE, shared insights on India's emergence as the world's IT capital. He highlighted the country's exceptional talent pool and how technology has been a key driver of India's growth story. Chauhan also discussed India's strong service economy, with giants like TCS and Infosys boasting massive workforces. Furthermore, he noted that India's resilient economy and strong balance of payments has made it a hub for cost-effective and high-quality work for global corporations like Microsoft and Google.