NCC strengthens on the buzz of selling select highway assets

NCC is currently trading at Rs. 46.75, up by 1.45 points or 3.20% from its previous closing of Rs. 45.30 on the BSE. The scrip opened at Rs. 46.10 and has touched a high and low of Rs. 48.80 and Rs. 46.10 respectively. So far 613287 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 52.00 on 15-Apr-2014 and a 52 week low of Rs. 16.55 on 04-Sep-2013. Last one week high and low of the scrip stood at Rs. 52.00 and Rs. 41.85 respectively. The current market cap of the company is Rs. 1200.81 crore. The promoters holding in the company stood at 20.41% while Institutions and Non-Institutions held 44.58% and 35.00% respectively. In a bid to reduce its debt burden, infrastructure major NCC is reportedly planning to sell select highway assets. IDFC and two funds Squared Capital and Acropolis Capital are in the race for the two highway assets namely, the Meerut-Muzaffarnagar highway and the Bengaluru-elevated expressway. The company is expecting to garner a combined enterprise value of around Rs 2000 crore for the said assets. NCC is engaged in development of real estate. The company’s projects stand on credentials of its work in various sectors such as Housing, Transportation, Power, water, Metals and Oil and gas.