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As per the direction of the Supreme Court, Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE) was formed to complete the stuck projects of Amrapali through NBCC (India) Ltd.
NBCC shares have 75 per cent in 2024 so far and are up 330 per cent in the last one year. On Tuesday, NBCC shares were up 1.24 per cent at Rs 143.05 on BSE.
The multibagger PSU stock rose 4.24% to Rs 147.50 against the previous close of Rs 141.30 on BSE. Market cap of the firm rose to Rs 25,749 crore.
In 1999, I was hired as a senior buyer with Prince George’s County procuring mostly IT equipment.
Shares of NBCC Ltd and HUDCO zoomed to their 52-week highs after Finance Minister Nirmala Sitharaman said two crore houses will be built up in the next five years. The FM also announced a housing scheme for the middle class. Shares of government-owned NBCC zoomed 7.41% to a high of Rs 139 against the previous close of Rs 129.40 on BSE. Similarly, shares of Housing & Urban Development Corporation (HUDCO) touched their 52-week high after the FM's announcement. HUDCO shares zoomed 19.07% to Rs 205.40 in the afternoon session.