The Government of Rajasthan announced on Tuesday to form a Joint Venture (JV) Company with National Buildings Construction Corporation (NBCC) to execute various re-developmental works and construction projects in the State of Rajasthan.
The stock had underperformed the market over the past one month till Jul. 14, 2014, falling 2.48% compared with the Sensex's 0.88% decline. It outperformed the market in past one quarter, gaining 18.08% as against 10.51% rise in the Sensex.
Shares of the company gained Rs 18.85, or 4.66%, to settle at Rs 423.35 at the BSE (Tuesday).