Shares of NCC continued to recover for the third straight session on Friday, going up over 6% to hit a new 52-week high of ₹333.35.

The Investment: The stock has been on an incredible bull run over the past year. Just in the last six months, the stock has surged up over 86%. This is a huge surge from the lows it saw during the pandemic. The stock had been trading at around ₹18 levels in March 2020. Since then the stock has surged up over 1,600%

See Also: This Defence Stock Is Gaining On ₹500 Cr Order From DRDO

On Wednesday, global brokerage firm CLSA highlighted NCC as one of its top picks. The brokerage said that companies like NCC, which operate primarily in the construction and infrastructure space, are well-positioned to capitalise on the anticipated increase in government spending on infrastructure projects.

The construction company's net profit increased by 25.2% to ₹239.2 crore in the March quarter, up from ₹191 crore in the same quarter last year. The Rekha Jhunjhunwala-backed company's revenue saw an increase of 31%, rising to ₹6,485 crore from ₹4,949 crore in the corresponding quarter of last year. She owns around 11% shares of the company.

Read Next: Bajaj Finance's Share Price Jumps As Housing Finance Arm IPO Gets Green Light