India's NBCC, HUDCO rise after MoU signing

Housing and Urban Development

28/11/2024 04:08

** Shares of NBCC (India) Ltd  NBCC.NS  and Housing and
Urban Development Corporation  HUDC.NS  rise as much as 5% and
5.9%, respectively
    ** NBCC signs memorandum of understanding with HUDCO for
development of a 10-acre institutional plot at tentative cost of
6 bln rupees ($71 mln)
    ** NBCC stock on track to snap 2 months of losses; HUDC on
track to snap 3 months of losses
    ** More than 3.7 mln shares of HUDCO traded as of 9:31 a.m.
IST, vs their 30-day moving avg of over 4.5 mln shares 
    ** Over 5.1 mln shares of NBCC traded in the same time, more
than half of its 30-day avg
    ** NBCC gained 84.1% YTD so far, including today's gains,
while HUDC climbed 83.2% YTD 

($1 = 84.4580 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))