NBCC Signs MoU With MTNL For Rs 1,600-Crore Project

One of India’s leading construction companies, NBCC India Limited, places a high priority on green building techniques and sustainable development. The company has worked on several nationally significant infrastructure and iconic building projects. NBCC has a reputation for completing high-quality projects on schedule and within budget thanks to its experience in project management, engineering, and construction services. Broadband, digital TV, mobile, landline, and other telecom services are all provided by MTNL. MTNL has been a significant player in the telecommunications sector for many years, having a strong presence in two important metropolises in India and Mauritius. The business is well-liked by clients in these areas due to its reputation for dependable services and affordable prices. As a BSNL subsidiary, MTNL has access to the assets and know-how of one of the biggest telecom providers in India, which enables it to keep up with technological advancements and grow its product line to better serve its clients’ changing needs.

MoU between MTNL and NBCC: 

As stated in an exchange filing, Mahanagar Telephone Nigam Ltd. (MTNL) and NBCC (India) Ltd. signed a memorandum of understanding on Wednesday for a Rs 1,600 crore project that includes developing an MTNL land parcel in New Delhi. The goal of the Pankha Road project is to use the knowledge and resources of both businesses to transform the roughly 13.9-acre plot of land into a cutting-edge residential or commercial area.

A previous sale of NBCC’s entire office building at the World Trade Center in Nauroji Nagar, New Delhi, was finalized for a sum of Rs 13,408.7 crore. NBCC raised a total of Rs 14,800 crore through the e-auction by selling office and commercial space.

The record date for NBCC bonus shares is October 7:

Moreover, October 7 is the record date that NBCC has designated for identifying the shareholders who qualify for bonus shares. The bonus shares will be credited to the accounts of the qualified shareholders within two months of the board’s approval date.

The stock price of NBCC (India) Ltd. 3% up in intraday: 

The current share price of NBCC (India) Ltd. is Rs. 181.30, with a high traded price of Rs. 182.40.

Mahanagar Telephone Nigam Ltd. jumps nearly 5% in intraday: 

The shares of Mahanagar Telephone Nigam (MTNL) are currently trading at Rs. 56.05, up 5% intraday today. MTNL’s 52-week high is Rs. 101.93 and the 52-week low is Rs. 23.35.

Conclusion: It is advantageous for both NBCC and MTNL to have an MoU that allows for organic growth.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.