NCC, a company in Rekha Jhunjhunwala’s portfolio, has given investors multibagger returns over the past two years, with shares closed at Rs 62.1 on May 13, 2022, now reaching Rs 273 per share, reflecting a return of 339%. In comparison, the BSE 500 index has only increased by 51.69% during this same period. NCC shares recently rose by 8% to Rs 272.95 on the BSE from the previous close of Rs 251.05, reaching a record high of Rs 277.90 on April 5, 2024.
Investors have seen significant wealth creation in NCC shares, with a return of 140% over one year and 62% since the beginning of the current year. The company’s market cap stands at Rs 16,989 crore, with 9.94 lakh shares traded on the BSE amounting to Rs 26.53 crore. NCC’s RSI is at 53.6, indicating neither overbought nor oversold conditions. The one-year beta of NCC stock is 1.2, reflecting high volatility during this period. The recent surge in the stock comes after impressive earnings in the fourth quarter of the financial year 2024.
Following the release of its quarterly results, NCC reported a net profit increase of 25.2% year-on-year in the fourth quarter, reaching Rs 239.2 crore compared to Rs 191 crore in the same period the previous year. EBITDA also increased by 18.5% to Rs 550.4 crore in the fourth quarter. Leading analyst firm Nuvama has maintained a buy recommendation for NCC stock with a target price of Rs 290, citing strong order intake and approvals that have led to a revision of EPS estimates for FY25E and FY26E by 4% and 7% respectively. Rekha Jhunjhunwala owns a 10.64% stake in the construction firm as of the March 2024 quarter, holding 6.67 crore shares.. Read More Here
