Money increased four times in two years, brokerage opinion – this stock will give more profits now

New Delhi. NCC Limited, the favorite stock of the big bull of the stock market, late Rakesh Jhunjhunwala, is making investors rich. Today this Miltibagger stock has made its new 52-week high of Rs 280.30. After the fourth quarter results, brokerages are also bullish on this stock which quadrupled its money in just two years and have increased the target price of NCC stock. NCC stock had risen by two percent to Rs 280.30 in early trade. At the time of writing the news, NCC share was trading at Rs 275.80 (NCC Share price Today) on NSE with a rise of 0.82 percent. Rakesh Jhunjhunwala’s wife Rekha Jhunjhunwala held 10.4 percent stake in NCC Limited in the March quarter.

NCC had announced the March quarter results on May 16. The company’s performance in the fourth quarter was excellent. The Net Working Capital (NWC) of the company has improved. There has also been a reduction in debt. NCC’s consolidated net profit increased by 25 percent to Rs 239.2 crore in the March quarter. Revenue jumped 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 on quarter-on-quarter basis it has decreased by Rs 470 crore. The debt is expected to reduce to Rs 500 crore in FY25.

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Brokerage increased target price
Brokerage houses are happy with the fourth quarter results of NCC Limited. Brokerage firm JM Financial has said in its note that NCC is coming out of the bad business cycle. There has been improvement in NWC management and operations. The brokerage firm has increased the company’s earnings estimates by 9 percent for FY25 and 3 percent for FY26.

Domestic brokerage house ICICI Securities has increased the target price of NCC shares to Rs 320. At the same time, Nuvama has fixed the target price of Rs 290 for this stock. This means that brokerage firms still see the potential of this stock to give excellent returns to investors.

Gave 334 percent return in two years
NCC Limited shares have given 334 percent profit to investors in two years. In the last one year, the return of this multibagger share has been 141 percent, while in six months the price of this share has increased by 61 percent. NCC stock has jumped 65 percent so far in the year 2024. This stock is also showing a rise in the last three trading sessions.

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