NCC Ltd is one of Rekha Rakesh Jhunjhunwala’s biggest bets. She currently owns a 13.1% stake in the company that is worth around ₹1,170 crore. The stock has climbed up over 150% in the past year.
The Investment: On 29th July 2022, NCC was trading at ₹58.6. Fast forward to today, the stock has hit a new 52-week high and is valued at ₹147.95. This means that an investment of ₹10,000 would have bought approximately 171 shares a year ago. Today, those 171 shares would be worth approximately ₹25,299.45, marking a significant increase in value.
Background: The construction major’s splendid run at the bourses has also been matched by the company’s financials. The company’s net sales have grown at a compound annual growth rate (CAGR) of 12% over FY18-FY23. As of March 2023, the company’s order book stood at ₹50,244 crore.
ICICI Direct also has a positive outlook on the stock. In its research note released earlier this month, the brokerage firm maintained its ‘buy’ rating on the stock with a price target of ₹170.
Price Action: NCC’s share price was up 7.11% to trade at ₹148.30 in the mid-market hours of trading on Friday.
Read Next: This Mid-Cap Stock Made Mukul Agrawal ₹27 Cr Richer Today
Disclaimer: This article is for educational purposes alone and does not constitute financial advice.
Editor’s Note: Artificial intelligence was used as a secondary aid in the writing of this story.
Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.