NCC shares surge 6% after securing Rs 10,805 crore BharatNet orders from BSNL

NCC shares surged 6.4% to an intraday high of Rs 217.55 on BSE on Wednesday after the infrastructure company secured two advance work orders worth Rs 10,804.56 crore (excluding GST) from Bharat Sanchar Nigam Limited (BSNL) for the design, supply, construction, installation, upgradation, operation, and maintenance of the middle-mile network of BharatNet.

"The company has received two advance work orders dated 25th March 2025 from Bharat Sanchar Nigam Limited (BSNL) for the design, supply, construction, installation, upgradation, operation, and maintenance of the middle-mile network of BharatNet in the Uttarakhand Telecom Circle (Package No. 05) and Madhya Pradesh, DNH & DD Telecom Circles (Package No. 01)," NCC said in an exchange filing.

The first contract, valued at Rs 2,647.12 crore, covers the Uttarakhand telecom circle, while the second, worth Rs 8,157.44 crore, pertains to Madhya Pradesh, Dadra & Nagar Haveli, and Daman & Diu telecom circles. Both projects have a three-year construction period and a 10-year maintenance period.

The order size is nearly equivalent to the company's overall market capitalisation, which stood at Rs 12,836 crore as of Tuesday’s close.

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NCC Q3 earnings

NCC reported a 12.5% year-on-year (YoY) decline in net profit to Rs 193.2 crore for Q3FY25. Revenue from operations rose 1.6% to Rs 5,344.5 crore from Rs 5,260 crore in Q3FY24. However, EBITDA fell 16.6% to Rs 420.9 crore from Rs 504.4 crore a year ago.

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NCC shares target price

As per Trendlyne data, the average target price of the stock is Rs 297, which shows an upside of 45% from the current market prices. The consensus recommendation from 13 analysts for the stock is a 'Buy'.

NCC shares performance

On Tuesday, NCC shares closed at Rs 204.4 on the BSE, down 2.25%, while the benchmark Sensex gained 0.04%. The stock has dropped 34% over the last six months but has surged 100% in the past two years. The company’s market capitalization stands at Rs 12,836 crore.

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