NBCC India Share Price Overview
As of October 10, 2023, at 16:00, the share price of NBCC India is trading at ₹116.9, witnessing a modest increase of 0.6% from its previous closing price. At the same time, the Sensex is performing well, sitting at ₹81611.41, marking an uptick of 0.18%. During the day, NBCC India shares reached a high of ₹117.95 and a low of ₹114.15, showcasing a dynamic trading pattern. This fluctuation indicates potential opportunities for investors looking to capitalize on short-term movements.
Technical Analysis of NBCC India
Analyzing the technical indicators, we observe that NBCC India stocks are trading above the 5, 10, 20, 100, and 300-day Simple Moving Averages (SMAs), although they remain below the 50-day SMA. This positioning suggests a relatively bullish trend, given that the stock is supported by shorter-term SMAs, while facing resistance at the 50-day SMA. Investors may consider these SMAs as critical levels for making informed decisions regarding entry and exit points.
SMA Values and Their Significance
The specific SMA values serve as essential benchmarks for assessing the stock’s performance. Monitoring these values allows investors to better understand potential price movements and support/resistance levels.
Pivot Level Analysis
According to the classic pivot level analysis on a daily timeframe, key resistance levels for NBCC India shares are identified at ₹118.86, ₹120.41, and ₹122.83. Conversely, the primary support levels are established at ₹114.89, ₹112.47, and ₹110.92. Understanding these levels empowers traders to formulate strategies regarding potential breakout or breakdown scenarios.
Trading Volume Insights
As of 4 PM today, the trading volume for NBCC India on both NSE and BSE has declined by 67.04% compared to the previous trading session. This significant drop in volume raises questions about the sustainability of the current price movement. Typically, an increase in price accompanied by higher volume is indicative of a strong upward trend, while a drop in price with high volume could signal further declines. Hence, the current low volume may warrant caution among investors.
Fundamental Analysis
From a fundamental perspective, NBCC India showcases a Return on Equity (ROE) of 19.26%. The stock’s Price-to-Earnings (P/E) ratio currently stands at 72.49. These fundamentals provide insight into the company’s financial health and its valuation in relation to its earnings, guiding potential investors in assessing the stock’s attractiveness in the market.
Shareholdings Breakdown
Regarding ownership, the promoter holding in NBCC India is recorded at 61.75%, while Mutual Funds hold 6.38%, and Foreign Institutional Investors (FIIs) hold 4.43% as per the filings from the June quarter. Such figures reflect the confidence that large investors have in the company’s prospects.
Change in Mutual Fund Holdings
It is notable that Mutual Fund holdings have decreased from 6.95% in March to 6.38% in the June quarter. This decline could imply a reduction in interest or confidence among institutional investors, which may impact stock performance in the future.
Foreign Institutional Investors Trends
In contrast, Foreign Institutional Investors have increased their holdings from 4.33% in March to 4.43% in the June quarter. This uptick signals growing interest from foreign markets, which could be a positive indicator for the stock’s future performance.
Market Performance Comparison
Today, NBCC India shares rose by 0.6% to reach ₹116.9 amidst mixed performances among its peers. Rail Vikas Nigam shares experienced a decline, while DLF shares saw an increase. Overall, benchmark indices such as Nifty and Sensex are up 0.07% and 0.18%, respectively, reflecting a cautiously optimistic market sentiment.
