Share News: Government company signed MoU of ₹ 3700 crore, watch the stock on Friday

News Topical, Digital Desk : State-owned NBCC has signed an MoU with Rajasthan State Industrial Development and Investment Corporation Limited (RIICO) to develop a Rs 3,700 crore project in Jaipur. In a communication to the exchange, the company said the project is to develop "Rajasthan Mandapam and associated infrastructure" on 95 acres of land near Jaipur International Airport. NBCC has been appointed as the executive agency for the project.

Under the agreement, RIICO will provide an initial interest-free advance amount of Rs 50 crore to NBCC, while the remaining amount will be raised by NBCC through sale and lease of built-up areas and planned plots. Rajasthan Chief Minister Bhajan Lal Sharma, Industry Minister Colonel Rajyavardhan Singh Rathore, Chief Secretary Sudhansh Pant, Additional Chief Secretary to Chief Minister and RIICO Chairman Shikhar Aggarwal, NBCC Chairman and Managing Director KP Mahadevaswamy and other senior officials were present at the MoU signing ceremony. Share performance The company's share closed at Rs 108.15 with a gain of 2.49 percent on Thursday. In the last one year, the company's share has seen a decline of 7.67 percent.

Read More: Infosys share buyback: Will you get Rs 1,800 or just Rs 1,620? The whole game is hidden in taxes!