Stock to Buy: After receiving an order of Rs 3496 crore, the stock of this company reached a 1-month high

On Friday, in a special trading session for Diwali 2024, the share price of NCC Limited has reached its highest level in more than a month. This surge in the share price is due to the orders of Rs 3,496 crore received by the company in October. The company said in an exchange filing that out of the total order amount, Rs 2,684 crore is for the building division, Rs 538 crore for the electrical segment and Rs 274 crore for water and other divisions. NCC has received these orders from state and central government agencies, private companies. These orders do not include any internal orders.

With Friday's gain, NCC's share price continued to rise for the second day. In the last two sessions, the share price has gained 4.62%. NCC's 52-week high is Rs 364.50 per share, which was reached on July 31. The 52-week low of this stock is Rs 140.55 per share, which NCC touched on November 1, 2023. NCC's share price rose 6.41% to Rs 317.45 per share, its highest level since September 13. In the Diwali 2024 Muhurat trading session, it closed 4.62% higher at Rs 312.60 per share, while the NSE Nifty 50 index gained 0.39%.

Stock Performance
The company's stock has gained 121.75% in 12 months and 87.57% on a yearly basis. ​​Total trading volume so far in the day was 1.8 times the 30-day average. The relative strength index of this stock was at 59.18. According to Bloomberg data, out of 14 analysts tracking the company, 10 maintained a 'buy' rating, one recommended 'hold' and three suggested 'sell'. The average 12-month consensus price target implies an upside of 7.0%.

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