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, ETMarkets.comLast Updated: Oct 09, 2026, 10:08:00 AM IST

Synopsis

NCC shares rose on Friday after the company secured a Rs 1,286.03 crore road construction order in Telangana from Hyderabad Growth Corridor Limited. The order, dated October 8, 2026, involves the construction of Radial Road-2 from the Outer Ring Road (ORR) near Budwel to Nacharam on NH-167N, covering Package 1 from Budwel to Shabad.

NCC shares rose 4.89% to Rs 125.57 on Friday after the company received a Letter of Acceptance (LoA) from Hyderabad Growth Corridor Limited for a road construction project worth Rs 1,286.03 crore in Telangana.

The order, dated October 8, 2026, involves the construction of Radial Road-2 from the Outer Ring Road (ORR) near Budwel to Nacharam on NH-167N, covering Package 1 from Budwel to Shabad. The project has an execution timeline of 18 months, the company said in a filing to the bourses.

Shares, valuation and Technical indicators

NCC shares rallied nearly 5% in Friday's trading session, but the stock has remained under pressure over a longer period. It has declined 13% over the past three months and 40% over the last year. The company currently commands a market capitalisation of around Rs 7,515 crore, while its 52-week high stands at Rs 217.25.

On the valuation front, NCC is trading at a price-to-earnings (P/E) ratio of 10.76 and a price-to-book (P/B) ratio of 0.94.

According to Trendlyne data, the stock's Relative Strength Index (RSI) stands at 22.9. An RSI below 30 is generally considered to indicate oversold conditions, suggesting that the stock has faced significant selling pressure, although this does not guarantee a rebound. Additionally, NCC is trading below all eight of its simple moving averages (SMAs), indicating continued weakness in its technical trend.

In the September 2026 quarter, promoters marginally increased their stake in the company from 23.08% to 23.19%.

Also read: TCS shares jump 4% after Q2 results. What are Goldman Sachs, Nomura, others saying?

Mutual funds also raised their holdings from 14.13% to 14.38%. However, foreign institutional investors (FIIs) reduced their stake from 11.29% to 10.44% during the quarter.

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