NCC surges on plan to reduce corporate debt

24 May 2013 Evaluate

NCC is currently trading at Rs 31.90, up by 0.65 points or 2.08% from its previous closing of Rs 31.25 on the BSE.

The scrip opened at Rs 31.60 and has touched a high and low of Rs 32.30 and Rs 31.10 respectively. So far 96131 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 61.45 on 04-Jan-2013 and a 52 week low of Rs 28.20 on 04-Jun-2012.

Last one week high and low of the scrip stood at Rs 37.60 and Rs 30.90 respectively. The current market cap of the company is Rs 810.80 crore.

The promoters holding in the company stood at 20.25% while Institutions and Non-Institutions held 49.43% and 30.30% respectively.

NCC, infrastructure and construction company is planning to reduce its corporate debt of Rs 3,900 crore by about 50% during the current financial year. It is in negotiations process for divestment of stake in two road assets, for the debt repayment. With the divestment of stake, the debt will get passed on to the buyer of assets.

The Hyderabad-based company is also planning to rope in strategic partner for its joint venture power project coming up at Krishnapatnam in Andhra Pradesh. As of the financial year end, NCC has total debt of Rs 3,900 crore, including Rs 2,230 crore on standalone basis.

NCC Share Price

79.50 -0.30 (-0.38%)
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