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NCC stock hit a 52 week high of Rs 219.70 on BSE today. Market cap of the firm stood at Rs 13,363 crore.

In today's trade, the stock hit a new 52-week high of ₹219.70 apiece following India Ratings and Research (Ind-Ra) upgrading the company outlook to ‘positive’ from ‘stable’ while maintaining the long-term issuer rating at 'IND A plus.'

While the insolvency and bankruptcy code (IBC) has had a profound positive impact on India's insolvency landscape, the resolution process has seen a divergence from its legislative intent of a faster and higher recovery of stressed assets because of litigations at various stages and judicial delays, says a research note.

“The primary reason for this (liquidity deficit) is that the government is not spending much. Also, this week is when the goods and services tax (GST) outflow happens,” said a treasury head of a private sector bank.

Budget 2024: India Ratings and Research (Ind-Ra) stated that the government aims to achieve a fiscal deficit to GDP ratio of 5.3% in FY25. However, it may miss the 5.9% target for FY24 due to a lower nominal GDP growth rate. The government plans to reduce the fiscal deficit to 4.5% of GDP by FY26. Ind-Ra projected a net tax revenue buoyancy ratio of 1.2x in FY25. It also noted a slowdown in capex growth in FY25 and limited scope for revenue expenditure rationalization.