Rakesh Jhunjhunwala raises stake in this infra stock; do you own it?

Big bull Rakesh Jhunjhunwala has raised shareholding in the construction and engineering company, NCC, during the fourth quarter ended March 31, 2022. The ace investor has hiked stake by 0.72% in the infrastructure company through his wife Rekha Jhunjhunwala's portfolio.

As per the latest shareholding pattern available on the BSE, Rekha now holds 1.6 crore equity shares or 2.62% stake in the NCC as of March 2022. At the end of December quarter, her stake in the company stood at 1.90%.

Meanwhile, Rakesh's shareholding in NCC remained unchanged at 6,67,33,266 equity shares or 10.94% in the company. Jhunjhunwala along with his wife together hold around 13.56% of the company’s shares.

According to the NCC shareholding pattern for Q4 FY22 period, promoter groups owned 19.68% stake in the company, while the remaining 80.32% shares were held by the public.

In terms of stock performance, NCC shares have delivered negative returns of around 6% to its shareholders in the past one year, while it rose nearly 3% since the beginning of the calendar year 2022. The stock has gained some buying momentum in the last one month, with the share price rising more than 17% during the period. It has gained 3% in a week.

On Tuesday, NCC shares opened at ₹72.90 against previous closing price of ₹71.65 on the BSE. The smallcap stock has gained as much as 1.7% in the early deal, while market capitalisation rises to ₹4,397 crore. The stock has been gaining for the last two days and has risen 3.95% during the same period. The stock hit a 52-week high of ₹98.45 July 12, 2021, and 52-week low of ₹55.80 on February 22, 2022.

Recently, the construction company announced sale of its subsidiary, NCC Vizag Urban Infrastructure (NCCVUL), to Bengaluru-based GRPL Housing for around Rs 200 crore. “The company along with other shareholders of subsidiary NCC Vizag Urban Infrastructure, entered into an agreement with GRPL Housing to sell and transfer their entire shareholding in NCCVUL to GRPL Housing. GRPL Housing is part of the Gardencity Realty Group,” it said in an exchange filing on March 31, 2022.

NCC is a Hyderabad-based infrastructure company engaged in the construction of roads, buildings, irrigation, water and environment, electrical, metals, mining and railways. Apart from executing projects across India, the company has a presence in the Middle East through its subsidiaries in Muscat and Dubai. NCC also has interests in road and energy projects through its 62.1%-owned subsidiary NCC Infrastructure Holdings Limited and in real estate through its 80%-owned subsidiary NCC Urban Infrastructure.