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The rally in the stock was noticed after the logistic firm secured an order worth Rs 52.48 crore from state-owned GAIL (India) Limited for the transportation of polymer.
Share Market News: Shares of NECC (North Eastern Carrying Corporation) were locked in a 5 per cent upper circuit on Monday i.e. December 11. The counter opened gap up with a gain of 4.81 per cent and went on to hit the upper circuit at Rs 32.11. The stock has been gaining for the last two sessions and has risen 6.18 per cent in this period.
The rally in the stock was noticed after the logistic firm secured an order worth Rs 52.48 crore from state-owned GAIL (India) Limited for the transportation of polymer.
The contract has to be executed over a period of three years, NECC said in a regulatory filing on Thursday.
The company has bagged the order through a bidding process to transport polymer.
“We have got the Letter of Acceptance from the top central public sector undertaking GAIL (India) Limited for transport of polymer under a contract value of Rs 52.48 crores for a period of 3 years,” the filing said.
New Delhi-based NECC is among the leading freight forwarding companies in India, providing services in neighboring Bhutan and Nepal as well.
Under the Ministry of Petroleum and Natural Gas, GAIL (India) Limited is India’s leading natural gas company.
