This news was out on 2 Dec 2014, but I found this information just recently. I am still wondering this funding, a whopping amount of Rs 1850 crore. More questions still on and wondering still.
NBCC up 6% on road construction order in Arunachal Pradesh
NBCC has secured PMC work for construction /improvement/maintenance of roads at Miao-Vijaynagar (Arunachal Pradesh) costing Rs 1850 crore.
Shares National Buildings Construction Corporation (NBCC) gained as much as 5.8 percent intraday Tuesday on bagging road construction order in Arunachal Pradesh.
"NBCC has secured PMC work for construction /improvement/maintenance of roads at Miao-Vijaynagar (Arunachal Pradesh) costing Rs 1850 crore," said the company in its filing.
Meanwhile, in October, the company had formed a wholly owned subsidiary company in the name and style of "NBCC Services Limited" to carry on the business of providing post construction maintenance services and to act as an execution and implementation agency for undertaking corporate social responsibilities projects & related activities.
It has been one of the biggest gainers in last one year, up 480 percent especially on hopes of more orders from the Narendra Modi-led government. The government holds 90 percent stake in the company.
At 14:51 hours IST, the stock was quoting at Rs 804.95, up Rs 35.20, or 4.57 percent on the Bombay Stock Exchange.
Posted by Sunil Shankar Matkar