Shares of NBCC gained 1% on Thursday after the government granted approval for the company’s revised offer to take over debt-ridden Jaypee Infratech.
"The Administrative Ministry of NBCC i.e. Ministry of Housing and Urban Affairs (MoHUA) on May 1, 2019 has communicated its approval with concurrence/consultation with Department of Expenditure, NITI Aayog and DIPAM for takeover of Jaypee Infratech Ltd by NBCC," the company said in a press note to the exchanges on Tuesday.
NBCC (India) Ltd's share price is currently at Rs58.80, up by Rs0.85 or 1.47%, from its previous close of Rs57.95 on the BSE.
The scrip opened at Rs58.50 and has touched a high and low of Rs59 and Rs57.60, respectively. So far, 29,25,100 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs10,431cr.
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