NCC Shares Recover After 10% Drop As NHAI Bars Unit From Tenders

Shares of NCC Limited experienced a significant downturn, plummeting nearly 10% to reach a 52-week low of Rs 135 on the National Stock Exchange (NSE) following a decision by the National Highways Authority of India (NHAI). The NHAI has barred one of NCC's units from participating in future tenders, leading to investor concerns regarding the company's prospects and operational capacity. However, the stock managed to recover slightly from its lows, briefly trading in positive territory after hitting the low mark. This incident highlights the volatile nature of the infrastructure sector in India, where regulatory decisions can have immediate and substantial impacts on company valuations. Investors are now closely monitoring the situation as NCC navigates this setback and seeks to regain market confidence.