Navratna PSU NBCC shares rise 4% on multiple business updates: Check Details
Stock Market Today: Navratna PSU NBCC shares gained up to 4.5% in the intraday trades on Monday The same was led by multiple business updates: Check Details
Navratna PSU NBCC Business Updates
Navratna PSU NBCC resolution plan for Red Mall Ghaziabad– Navratna PSU NBCC on 17 May 2025 had intimated about a resolution plan submitted by the company in the insolvency Resolution Process of a city Mall project. In its release on the Exchanges Navratna PSU NBCC India Ltd said that “NBCC has submitted the Resolution Plan with respect to 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- Navratna PSU NBCC intimated the National Stock Exchange of India or the NSE and Bombay Stock Exchange or the BSE on Friday 16 May 2025 post the market hours, about the Incorporation of wholly owned subsidiary of NBCC in Dubai. As per the release by NBCC India , it said that “this is to inform that M/s NBCC Overseas Real Estate LLC has been incorporated as Wholly Owned Subsidiary of NBCC (India) Limited in Dubai Mainland, UAE.” Mainland, UAE
Referring to the objectives of the development Navratna PSU NBCC said that the Company has been incorporated for Buying and selling of real estate in Dubai Mainland Mainland, UAE
Navratna PSU NBCC – Approval status for the Dubai Subsidiary
Referring to the regulatory approvals required for the acquisition NBCC India said that the Department of Investment and Public Asset Management (DIPAM) vide their OM dated 24th February 2025 reiterated their earlier approval for setting up of wholly owned subsidiary of NBCC in Dubai. However the RBI-ODI approval is still awaited.
As per NBCC (India), The Company is a newly incorporated Company with an object of executing the real estate business in main land Dubai initially for Buying and Selling the real estate.
Navratna PSU NBCC share price movement
NBCC shares opened at ₹112.78 on the BSE on Monday and at the time of opening Navratna PSU NBCC share was higher than the previous days closing price of ₹111.11. The NBCC India share price thereafter surged further to intraday highs of ₹116.13, which meant gains of more than 4.0% (4.5%)
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