Navratna PSU NBCC Shares Surge 4.5% on Significant Business Updates
Navratna PSU NBCC shares witnessed a 4.5% jump in intraday trading on Monday, driven by multiple business updates, including a resolution plan for a Ghaziabad project and the incorporation of a subsidiary in Dubai.
NbccStock MarketShare PriceReal EstateDubaiReal EstateMay 19, 2025
Navratna PSU NBCC Business Updates
Navratna PSU NBCC Resolution Plan for Red Mall Ghaziabad
On May 17, 2025, Navratna PSU NBCC informed the stock exchanges about a resolution plan submitted by the company in the insolvency Resolution Process of a city mall project. According to the release, NBCC has submitted the Resolution Plan with respect to the Corporate Insolvency Resolution Process (CIRP) of M/s Celebration City Projects Private Limited, Ghaziabad (RED Mall) on May 17, 2025.
Navratna PSU NBCC Incorporation of a Wholly Owned International Subsidiary
On May 16, 2025, post-market hours, Navratna PSU NBCC intimated the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE) about the incorporation of a wholly owned subsidiary in Dubai. The company stated that M/s NBCC Overseas Real Estate LLC has been established as a Wholly Owned Subsidiary of NBCC (India) Limited in Dubai Mainland, UAE. The primary objective of this subsidiary is to engage in the buying and selling of real estate in Dubai Mainland, UAE.
Navratna PSU NBCC - Approval Status for the Dubai Subsidiary
Regarding the regulatory approvals required for the acquisition, NBCC India mentioned that the Department of Investment and Public Asset Management (DIPAM) reaffirmed their earlier approval for setting up a wholly owned subsidiary of NBCC in Dubai via an OM dated February 24, 2025. However, the RBI-ODI approval is still pending.
Navratna PSU NBCC Share Price Movement
NBCC shares opened at ₹112.78 on the BSE on Monday, higher than the previous day's closing price of ₹111.11. The NBCC India share price subsequently surged to intraday highs of ₹116.13, marking gains of more than 4.0% (4.5%).
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Frequently Asked Questions
What significant business updates led to the surge in NBCC shares?
The significant business updates include the submission of a resolution plan for a Ghaziabad project and the incorporation of a wholly owned subsidiary in Dubai for real estate business.
What is the primary objective of NBCC's subsidiary in Dubai?
The primary objective of NBCC Overseas Real Estate LLC is to engage in the buying and selling of real estate in Dubai Mainland, UAE.
What regulatory approvals are still pending for the Dubai subsidiary?
The RBI-ODI approval is still pending for the Dubai subsidiary.
How much did NBCC shares gain in intraday trading on Monday?
NBCC shares gained up to 4.5% in intraday trading on Monday.
What was the opening and closing price of NBCC shares on Monday?
NBCC shares opened at ₹112.78 on the BSE on Monday, higher than the previous day's closing price of ₹111.11, and surged to intraday highs of ₹116.13.
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