Money quadrupled in two years, brokerage opined – this stock will pay more now.

New Delhi. NCC Ltd, the favorite stock of late Rakesh Jhanjhanwala, stock market bull, is making investors rich. Today this multi-beagger stock made a new 52-week high of Rs 280.30. After the fourth-quarter results, brokerages are also bullish on the stock, which has quadrupled its amount in just two years, and raised its target price on NCC stock. NCC stock rose two percent to Rs 280.30 in early trade. At the time of writing, the NCC share was trading at Rs 275.80 (NCC share price today) on the NSE, up 0.82 percent. Rakesh Jhanjhanwala’s wife Rekha Jhanjhanwala held 10.4 per cent stake in NCC Ltd in the March quarter.

The NCC had announced the results for the March quarter on May 16. The company’s performance in the fourth quarter was impressive. The company’s networking capital (NWC) has improved. Debts have also come down. NCC’s consolidated net profit rose 25 percent to Rs 239.2 crore in the March quarter. Revenue rose 31 percent to Rs 6,484.9 crore. At the end of FY24, the company’s gross debt stood at Rs 1,000 crore and has declined by Rs 470 crore on a quarter-on-quarter basis. Debt is expected to come down to Rs 500 crore in FY25.

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The brokerage increased the target price.
Brokerage houses are happy with NCC Ltd’s Q4 results. Brokerage firm JM Financial said in its note that NCC is coming out of a bad business cycle. The management and operations of NWC have improved. The brokerage firm raised the company’s revenue estimates by 9 percent for FY25 and 3 percent for FY26.

Domestic brokerage house ICICI Securities has raised the target price on NCC shares to Rs 320. Also, Nuvama has set a price target of Rs 290 for the stock. This means that brokerage firms still see potential in this stock to deliver excellent returns to investors.

It gave 334% profit in two years.
Shares of NCC Ltd have given investors a return of 334% in two years. The multi-beagger share has returned 141% in the last one year, while the share price has increased by 61% in six months. NCC stock is up 65% year to date in 2024. The stock has also been showing gains in the last three trading sessions.

(Disclaimer: The stock mentioned here is based on the advice of the brokerage houses. If you want to invest in any of them, consult a certified investment advisor first. News 18 of any profit or loss you make. will not be responsible).

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