NBCC

March 19 (Reuters) - NBCC (India) Ltd NBCC.NS:

• SOLD 1,046 RESIDENTIAL UNITS AT ASPIRE CENTURIAN PARK THROUGH E-AUCTION

• SOLD RESIDENTIAL UNITS AT TOTAL SALE VALUE OF 23.53 BILLION RUPEES

Source text: ID:nnAPN2PBXUC

Further company coverage: NBCC.NS

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** NBCC (India) NBCC.NS rises 1.6% to 79.18 rupees

** Construction co gets order worth 446.2 mln rupees (~$5 mln) to build infrastruture at Mahatma Gandhi Institute for Rural Industrialisation in Maharashtra's Wardha

** NBCC down ~15% YTD

($1 = 86.7300 Indian rupees)

(Reporting by Vijay Malkar)

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March 17 (Reuters) - NBCC (India) Ltd NBCC.NS:

• NBCC - GOT ORDER WORTH 446.2 MILLION RUPEES

Source text: ID:nnAPN2P6LAI

Further company coverage: NBCC.NS

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Feb 24 (Reuters) - NBCC (India) Ltd NBCC.NS:

• NBCC (INDIA) LTD - RECEIVES WORK ORDER WORTH 2.64 BILLION RUPEES

Source text: ID:nBSE6GCwmc

Further company coverage: NBCC.NS

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Feb 12 (Reuters) - NBCC (India) Ltd NBCC.NS:

• ENGAGED BY MIZORAM GOVERNMENT FOR 3 HYDRO PROJECTS

Source text: ID:nBSEbDWTsw

Further company coverage: NBCC.NS

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Feb 4 (Reuters) - NACDAC Infrastructure Ltd NACD.BO:

• GETS ORDER WORTH 122 MILLION RUPEES FROM NBCC INDIA

Source text: ID:nBSEbZMTWb

Further company coverage: NACD.BO

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Recasts; adds comments, stock move and backgrounds

By Nikunj Ohri, Shivangi Acharya and Sarita Chaganti Singh

NEW DELHI, Feb 1 (Reuters) - India slashed personal tax rates in its annual budget on Saturday, as the world's fifth largest economy focuses on boosting domestic demand amid uncertainty over the global economic outlook due to potential new tariff barriers.

The world's most populous country is expected to post its slowest growth in four years next year amid frail urban demand and weak private investment, while stubbornly high food inflation has dented disposable incomes.

The government said people earning up to 1.28 million Indian rupees ($14,800) per year will not have to pay any taxes, raising its threshold from 700,000 rupees. It also lowered tax rates for people earning above the new threshold.

"The new structure will reduce taxes on middle class and leave more money in their hands, boosting household consumption, savings and investment," Finance Minister Nirmala Sitharaman said in parliament.

The move will result in an annual 1 trillion Indian rupee ($11.6 billion) hit to Treasury revenues.

Measures to assist the poor, youth, farmers and women were also included in the budget for 2025-26, Sitharaman said.

Increasing living costs have weighed on the popularity of Prime Minister Narendra Modi, with one survey showing more Indians are becoming less hopeful about their quality of life.

Per capital income is around $2,700 for India's population of 1.4 billion, with about one-third considered middle class.

The tax cut is "likely to spur consumer demand and savings by the middle class that has faced challenges from elevated inflation and lower income growth," Sakshi Gupta, economist at HDFC Bank.

The move led to a rally in consumer stocks such as Maruti Suzuki MRTI.NS, Godrej Consumer Products GOCP.NS and Prestige Estates PREG.NS, which jumped by 4% to 8%.

To balance the revenue lost, the government has budgeted for a modest increase in capital spending this year, which will rise to 11.21 trillion rupees in 2025-26 compared to a lowered 10.18 trillion in the current year.

The modest infrastructure spending increase disappointed investors in the sector and stocks of firms including Larsen & Toubro LART.NS, NBCC NBCC.NS, IRB Infra IRBI.NS and KEC International < KECL.NS> were down between 1% and 6%.

The government expects to improve its finances, targeting a fiscal deficit of 4.4% of GDP in 2025-26, down from a revised 4.8% of GDP in the current year.

It will borrow 14.82 trillion Indian rupees via the bond markets to fund this year's fiscal deficit.

The government, however, refrained from pre-empting the impact of potential tariffs from U.S. President Donald Trump on India and focussed on lowering some input costs for industries that have been raising output such as electronics and

renewables.

FOCUS ON FARM, MANUFACTURING AND FINANCIAL SECTOR

India has faced a bout of high food inflation over the past year due to weather changes impacting output.

To boost productivity across the farm sector, the government will launch a national mission to push high-yielding crops, with a special focus on pulses and cotton production.

To help farmers, the limit for subsidised credit has been raised to 500,000 Indian rupees ($5,778) from 300,000 rupees earlier.

The government will also launch missions to push manufacturing and exports, Sitharaman said, without going into details.

India has long aimed to boost the share of manufacturing and exports in its economy but has had little success. The share of manufacturing in the economy has remained close to 17%, short of its long-standing goal of 25%.

To deepen the penetration of insurance in the economy, the foreign direct investment limit on insurance was raised to 100% from 74% currently.

($1 = 86.5360 Indian rupees)

(Reporting by Shivangi Acharya and Nikunj Ohri in New Delhi; Writing by Ira Dugal and Aftab Ahmed; Editing by Lincoln Feast)

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** Shares of Housing and Urban Development Corp HUDC.NS, mineral exporter MMTC MMTC.NS and infra developer NBCC (India) NBCC.NS fall between 2.5% to 4%

** Indian govt to suspend privatization plans, including potential sale, for the three state-run firms, Reuters reports

** Privatization of these cos faced opposition from relevant ministries, report adds

** Including session's losses, HUDC and NBCC have gained 25% and 12% respectively in last 12 months while MMTC has lost 15%

(Reporting by Ananta Agarwal in Bengaluru)

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By Nikunj Ohri and Sarita Chaganti Singh

NEW DELHI, Jan 27 (Reuters) - Indian Prime Minister Narendra Modi is pouring billions into ailing state-run firms after slowing ambitious divestment plans that were intended to reduce the role of the state in business, according to government sources and a document reviewed by Reuters.

Less than a month into 2025, New Delhi has plans to invest about $1.5 billion in financial rescue packages for two state-owned firms after failing to sell them to private companies.

It has also decided to put in "abeyance" privatisation of at least nine state-owned units after opposition from relevant ministries, according to a document that detailed recommendations of a government panel set up to identify privatisation candidates. The document, reviewed by Reuters, did not cite reasons for the decision.

The nine companies include Madras Fertilizers MDFT.NS, Fertilizer Corp of India, MMTC MMTC.NS and NBCC (India) NBCC.NS, the document showed.

Housing and Urban Development Corp HUDC.NS, that was also identified for privatisation, has now been 'exempted' implying it will not be sold, according to the document.

Among the state-owned companies being revived with government funding is helicopter operator Pawan Hans.

The government is planning to infuse around $230 million-$350 million in Pawan Hans to modernise its aging fleet of helicopters after four failed attempts to sell the company, two government sources said.

The amount of infusion is still being finalised as the options being considered for fleet modernisation include both outright acquisition and leasing, one of the sources said.

The sources declined to be identified because of the sensitivity of the issue.

India's finance and civil aviation ministries did not immediately reply to e-mails seeking comment on the privatisation plans or on the Pawan Hans investment.

The fund infusion in Pawan Hans and plans to halt the privatisation of nine firms have not been previously reported.

In 2021, Modi's government announced a major programme to privatise most of India's state-run companies. The plan was so drastic that even in the four sectors that India sees as sensitive, such as telecoms and banking, it wanted to keep only a minimum presence, while exiting from all other sectors.

But now it is planning rescue and revival plans for companies even outside the sensitive sectors.

Last week, the government announced a $1.3 billion plan to revive debt-laden steel producer Rashtriya Ispat Nigam Ltd (RINL).

The government has also allocated 80 billion rupees in 2024/25 for bond repayments of state-run telco MTNL that has seen a series of defaults lately, according to budget documents for the current year.

PRIVATISATION SLOWDOWN

Four years since the privatisation policy was announced, the Modi government has had only three successes, out of which Air India's sale to the Tata Group was the largest. The other two were indirect holdings in steel-maker Neelachal Ispat Nigam Ltd to Tata Steel TISC.NS and Ferro Scrap Nigam to Konoike Transport Co 9025.T.

Other large sales have either been deferred or delayed.

The U-turn in policy was partly driven by the expectation that some large state-owned firms could be overhauled and made more profitable, helping the government earn dividend income, Reuters has reported previously.

Political pressures on Modi have increased after he came back to power in mid-2024 only with the help of regional allies, making it more difficult to overcome opposition to privatisation by employee unions fearing job losses.

The sale of state refiner Bharat Petroleum Corp BPCL.NS was rolled back in 2022 after failing to get suitors. The ongoing privatisation of Shipping Corp of India SCI.NS and BEML BEML.NS has been stuck for years due to complications over transfer of land holdings. The government has also been dragging its feet on the sale of a majority stake in IDBI Bank IDBI.NS.

In previous years, privatisation formed an important part of the government’s plan to reduce its budget gap. But with the federal fiscal deficit seen falling to a more comfortable 4.9% of GDP in the 2024-25 year, the fiscal push for divestment has waned.

New Delhi is expected to miss its internal stake sale target of 180 billion to 200 billion rupees in 2024-25 (April-March) for the sixth straight year. As of January, government has mopped up 86.25 billion rupees via stake sales in 2024/25.

($1 = 86.4250 Indian rupees)

(Reporting by Nikunj Ohri and Sarita Chaganti Singh; Editing by Ira Dugal and Raju Gopalakrishnan)

(([email protected]; +91 90284 60730; Reuters Messaging: twitter.com/nikunj_ohri))

Jan 24 (Reuters) - NBCC (India) Ltd NBCC.NS:

• GOT ORDERS WORTH 2.3 BILLION RUPEES

Source text: ID:nBSEblkVKT

Further company coverage: NBCC.NS

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Jan 15 (Reuters) - NBCC (India) Ltd NBCC.NS:

• RECEIVES WORK ORDERS WORTH 4.05 BILLION RUPEES

Source text: ID:nBSE4Ypc1P

Further company coverage: NBCC.NS

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Dec 20 (Reuters) - NBCC (India) Ltd NBCC.NS:

• GETS WORK ORDER FOR 981.7 MILLION RUPEES

Source text: ID:nBSE8SYL6K

Further company coverage: NBCC.NS

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** Shares of J Kumar Infraprojects JKIP.NS rise as much as 2.6% to 794.7 rupees, their biggest intraday again since Nov. 25

** Stock last up 1%

** Infrastructure projects contractor gets 6.32 billion rupees ($74.4 million) contract from NBCC India NBCC.NS for the development of a colony in Delhi

** JKIP sees busiest day in 2 weeks, with over 269,000 shares traded

** Stock up 36% YTD

($1 = 84.9300 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

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** Shares of construction and engineering co NBCC (India) NBCC.NS rises 2.1% to 101.4 rupees

** Co gets two orders worth a total of 4.9 billion rupees ($57.8 million) for construction of schools and buildings

** Stock snaps five-session losing run

** Stock up 86% YTD

($1 = 84.8290 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

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Dec 12 (Reuters) - NBCC (India) Ltd NBCC.NS:

• APPOINTMENT OF CO AS PROJECT MANAGEMENT CONSULTANT

• TENTATIVE CONSTRUCTION COST OF PROJECT IS 94.45 BILLION RUPEES

Source text: ID:nNSE6TmMhf

Further company coverage: NBCC.NS

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Dec 10 (Reuters) - NBCC (India) Ltd NBCC.NS:

• NBCC (INDIA) LTD - RECEIVES WORK ORDER WORTH 4.32 BILLION RUPEES

Source text: ID:nBSE94QYq2

Further company coverage: NBCC.NS

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** Shares of construction and engineering co NBCC NBCC.NS rise 3% to 103 rupees

** The state-run co. says unit gets orders worth 5.99 bln rupees ($71 mln)

** The orders include establishment of healthcare clinic and radiation oncology unit in India's western state of Maharashtra

** Stock extends gain for three sessions straight

** Stock extends YTD gains to ~89%

($1 = 84.7275 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru)

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Dec 3 (Reuters) - NBCC (India) Ltd NBCC.NS:

• NBCC (INDIA) LTD - RECEIVES WORK ORDER WORTH 2.13 BILLION RUPEES

Source text: ID:nBSE26Lxjk

Further company coverage: NBCC.NS

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** 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)

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Nov 27 (Reuters) - NBCC (India) Ltd NBCC.NS:

• GOT ORDER WORTH 3.16 BILLION RUPEES

Source text: ID:nBSE5czxj

Further company coverage: NBCC.NS

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Nov 21 (Reuters) - NBCC (India) Ltd NBCC.NS:

• GOT ORDER WORTH 2.02 BILLION RUPEES

Source text: ID:nBSE8dvNHb

Further company coverage: NBCC.NS

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Nov 19 (Reuters) - NBCC (India) Ltd NBCC.NS:

• NBCC - GETS TOTAL ORDER WORTH 1.12 BILLION RUPEES

Source text: ID:nNSE3CSnSB

Further company coverage: NBCC.NS

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Nov 13 (Reuters) - NBCC (India) Ltd NBCC.NS:

• NBCC (INDIA) LTD - ANJEEV KUMAR JAIN APPOINTED AS CFO EFFECTIVE NOVEMBER 1, 2024

• NBCC (INDIA) LTD - SALEEM AHMAD STEPS DOWN AS CFO EFFECTIVE NOVEMBER 1, 2024

Source text: ID:nBSEnLgSv

Further company coverage: NBCC.NS

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** Shares of NBCC NBCC.NS rises 1.9% to 96.4 rupees

** Stock set to snap three straight days of losses, if trend holds

** Construction and engineering co receives three work orders worth about 4.49 billion rupees ($53 million)

** Stock still trading below key 50-, 100-, 200- day moving avgs

** Stock extends YTD gains to 75.9%, its second straight year of gains

($1 = 84.3900 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

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Nov 5 (Reuters) - NBCC (India) Ltd NBCC.NS:

• WORK ORDER RECEIVED AMOUNTING 5 BILLION RUPEES

Source text: ID:nBSEbm8PJz

Further company coverage: NBCC.NS

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Nov 4 (Reuters) - NBCC (India) Ltd NBCC.NS:

• UNIT GOT ORDER WORTH 650 MILLION RUPEES

Source text: ID:nBSE29r5Xx

Further company coverage: NBCC.NS

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Oct 28 (Reuters) - NBCC (India) Ltd NBCC.NS:

• NBCC - GETS ORDER WORTH 17.26 BILLION RUPEES

Source text: [ID:]

Further company coverage: NBCC.NS

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Oct 22 (Reuters) - NBCC (India) Ltd NBCC.NS:

• NBCC - GETS ORDERS WORTH 410 MILLION RUPEES

Source text for Eikon: ID:nBSE5h9pkB

Further company coverage: NBCC.NS

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Oct 16 (Reuters) - NBCC (India) Ltd NBCC.NS:

• NBCC- GOT ORDER WORTH 252.5 MILLION RUPEES

Further company coverage: NBCC.NS

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Oct 11 (Reuters) - NBCC (India) Ltd NBCC.NS:

• NBCC - GETS ORDER WORTH 651.5 MILLION RUPEES

Source text for Eikon: ID:nnAPN296HZI

Further company coverage: NBCC.NS

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