NBCC shares surge 6% on bagging contract to renovate Pragati Maidan in New Delhi

Shares of National Buildings Construction Corporation surged 6 per cent in trade on Wednesday after the infrastructure company said it has bagged a Rs 2,149-crore order from the Indian Trade Promotion Organisation (ITPO) for redevelopment of exhibition venue Pragati Maidan in New Delhi.
 
The stock ended the day 3.35 per cent up after hitting an intraday high of Rs 986.40, up 5.95 per cent on the Bombay Stock Exchange (BSE).

In a filing to BSE, NBCC said, "The Indian Trade Promotion Organisation (ITPO)... awarded work for redevelopment of Pragati Maidan, New Delhi, involving construction of integrated exhibition-cum-convention centre to NBCC for an estimated Rs 2,149 crore."

The project entails development of over 3.26 lakh square metres of built-up area, including 1.19 lakh square metres of exhibition space and convention centre facility, in addition to various appurtenant facilities like meeting halls, lounges and parking space for 4,800 passenger cars in phase 1.