These PSU Stocks Are Surging Up To 7% To Buck The Trend As Peers Crash

Two public sector firms were surging in the bourses on Wednesday even as most of their peers were in the red.

What Happened: Shares of power generation firm SJVN and construction company NBCC India soared up to 7% following their first quarter results.

SJVN's net profit surged 31.4% to ₹357 crore in the April to June period, compared with ₹271.75 crore in the corresponding period a year ago. Revenue from operations stood at ₹870.37 crore, representing a 29% year-on-year jump.

On the other hand, NBCC India's net profit surged by 39% to ₹104.62 crore in the first quarter of FY25, from ₹75.09 crore in the same period last year.  The firm clocked in a revenue of ₹2,144.16 crore, up 11.3%.

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Additionally, the company also announced on Wednesday that it has bagged a ₹528.21 crore order from its subsidiary HSCC India for the procurement of biomedical equipment and hospital furniture for Pt. Deen Dayal Upadhayaya University of Health Sciences in Kutail, Karnal.

NBCC bagged two other orders, cumulatively worth nearly ₹720 crore, earlier this week. The first contract was awarded by the Institute of Company Secretaries of India for the construction of a new building for the Hyderabad Chapter of the Institute of Company Secretaries of India. The second, awarded by the Jhansi Development Authority, is to development of two land parcels in Jhansi.

Price Action: SJVN's shares were up 4.91% to ₹143.85, while NBCC was trading 2.12% higher at ₹176.99 on Wednesday.

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