Finally! PSU stock jumps 9% after 4 months of losses, logs biggest 1-day gain in 14 months. What sparked the rally?
A Ksheerasagar
Shares of NBCC (India), the state-owned construction company, settled 9% higher at ₹76 apiece in Monday’s trade after the company announced plans to develop the Maharana Pratap Tourist Circuit at Haldighati in Rajasthan. Today's rally was the biggest single-day spike that the stock had seen in the last 114 months.
In a filing on Monday, NBCC said it has signed a memorandum of understanding (MoU) with the Department of Tourism, Government of Rajasthan, and the Rajasthan Heritage Authority (RHA). Under the agreement, NBCC will undertake the planning, designing, execution, operation, and maintenance of the identified works.
As part of the ₹168 crore tourist circuit project, the company will construct what is proposed to be the world’s largest statue of Maharana Pratap at Haldighati. Maharana Pratap was the ruler of the Kingdom of Mewar.
The project cost, as sanctioned by the Rajasthan government, stands at ₹168.39 crore, excluding GST. This includes a project management consultancy (PMC) fee of 4.25% of the actual project cost.
A major highlight of the proposed development will be the creation of the world’s tallest statue of Maharana Pratap at Haldighati, along with a historical museum depicting the legendary warrior riding his iconic horse, Chetak, NBCC said.
The project will also feature a topographical projection show at the Haldighati Memorial. The historical significance of the Battle of Haldighati and key events associated with it will be presented through an immersive visual experience.
Last week, the company announced that it had sold 8.80 lakh sq ft of residential real estate through an e-auction in the national capital for ₹5,191 crore. The average selling price per sq ft was nearly 60% higher than the reserve price.
The sale was conducted on behalf of the central government to fund redevelopment projects across various colonies in the national capital.
NBCC will receive a marketing fee of 1% of the sale value. The average selling price was nearly 60% above the reserve price of ₹37,161 per sq ft, while the highest bid stood at ₹89,061 per sq ft.
The flats, located at Africa Avenue, are part of the seven General Pool Residential Accommodation (GPRA) redevelopment programme. The Union Cabinet had approved the programme to create modern, sustainable government housing while optimising land use in the national capital.
NBCC shares have turned volatile in the second half of 2026 after maintaining a steady winning run earlier. The stock has closed in the red in each of the last four months, losing a cumulative 33%.
So far in 2026, the stock is down 38%. If it maintains this trend through the end of the year, it will mark its first annual decline in three years.
Over the longer term, however, the stock has delivered gains of 153% over the past five years and is up 714% from its 2020 low of ₹9.37 apiece.
A Ksheerasagar
Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.
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HomeMarketsStock MarketsFinally! PSU stock jumps 9% after 4 months of losses, logs biggest 1-day gain in 14 months. What sparked the rally?
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