Actions of the Housing & Urban Development Corporation (HUDCO) soared 9% on signing of a memorandum of understanding with NBCC (India) Ltd on November 27, 2024, in New Delhi, for the development of a 10-acre land parcel owned by HUDCO in Noida.
The tentative cost of the project is around ₹600 crore.
HUDCO, according to information provided by the stock exchange, plans to develop an institutional complex of 8.71 lakh square feet. The complex will offer a mix of office space, studios, conference facilities as well as retail and communal spaces. NBCC will be responsible for the entire project lifecycle, from initial planning to final delivery.
Shares of HUDCO traded at ₹226.97 on the NSE, up 2.97 per cent, after hitting the day’s high of ₹240.58. The stock earlier closed at ₹220.42.
NBCC Shares (India) also rose 3.02 per cent to trade at ₹98.57 on the NSE at the time of writing.
