Should I invest in NCC stock in the UAE in 2025?

What is the NCC?

How much is the NCC stock?

The price of NCC stock is falling this week. As of now, NCC trades at ₹231.19, down 2.30% in the past 24 hours. The weekly change data is not published, but the company maintains a market capitalization of ₹14,506 crores (about $1.74 billion USD) and sees an average 3-month trading volume of 6,384,775 shares. Its P/E ratio stands at 17.8, with a dividend yield of 0.94%, and a beta of 0.83, signaling relatively modest volatility. With these metrics, NCC remains a noteworthy option for AE investors seeking exposure to India’s infrastructure sector while balancing risk and growth potential.

Our full analysis on the NCC stock

Having conducted an extensive review of NCC Limited’s (NCC.NS) latest financial disclosures alongside the stock’s trajectory over the past three years, our team has leveraged comprehensive market data, technical signals, sectoral comparisons, and proprietary analytical models to evaluate the company’s present investment appeal. NCC’s recent quarterly achievements, persistent order flow, and robust fundamental profile remain especially compelling in the current market environment. So, why might NCC stock once again become a strategic entry point into the infrastructure and engineering sector in 2025?

Recent Performance and Market Context

NCC’s market journey over the past several years is noteworthy for both its resilience and growth potential. After an exceptional five-year gain of over 900%, the stock has moved into a corrective phase, closing at ₹231.19 as of May 30, 2025—representing a 25.35% decline over the last six months and a 19.07% drop year-on-year. However, these figures should be viewed within the context of NCC’s historical volatility: the company’s strong upward momentum has previously been punctuated by healthy consolidations, often paving the way for sustainable, long-term advances.

Several recent events set a decidedly positive context:

• Record order book: NCC achieved its highest-ever order backlog, totaling ₹71,568 crores, providing more than three years of revenue visibility.
• Consistent project wins: New order inflows in Q4 FY25, including ₹32,888 crores for the year and ₹1,663 crores in April 2025 alone, demonstrate robust demand across core business verticals.
• Sectoral and macroeconomic tailwinds: India’s accelerating infrastructure push offers a supportive backdrop for leading construction players such as NCC, with government-backed projects and ambitious urban development schemes driving long-term industry growth.

This convergence of strong project inflows, a solid operating environment, and a recent price consolidation places NCC in a favorable position for renewed investor interest—particularly as the broader Indian infrastructure sector continues to benefit from policy support and robust capital expenditure plans.

Technical Analysis

A careful technical analysis of NCC reveals emerging bullish tendencies despite short-term volatility. Key technical insights include:

• Relative Strength Index (RSI) stands at 60.35, suggesting bullish strength without yet being overbought.
• MACD at 6.31 (signal: 5.48) indicates mild positive momentum, with recent bullish crossovers pointing toward renewed accumulation.
• Key support has held firm at ₹224.1, which technical participants view as a base for accumulation.
• Resistance is closely monitored at ₹233.9; a breakout above this level—alongside mean reversion toward the 50-day and 200-day moving averages—could unlock further upside.
• Moving averages (especially the 50-day MA) have recently acted as dynamic supports, adding conviction to the current technical structure.
• Price structure: The 52-week range (₹170.05 – ₹364.50) highlights both recent downside and significant upside potential if the stock regains momentum.

While the Average Directional Index (ADX) at 18.71 suggests the trend is still establishing, the present momentum and constructive technical base reinforce the view that NCC may be entering a new, healthier bullish phase—especially on confirmation of upward moves above near-term resistance.

Fundamental Analysis

NCC’s fundamentals showcase a company executing steadily on both growth and profitability—an increasingly rare combination in the construction sector. Major highlights comprise:

• Revenue Growth: Annual revenue for FY25 reached ₹22,199 crores (+7% YoY), with net profit rising by 12% to ₹868 crores, reflecting both top-line expansion and operational excellence.
• Profitability: The company delivered an impressive EBITDA margin of 9% for the latest quarter, while ROCE stands at a robust 22.1%, and ROE at 11.7%. These metrics are well above industry averages, underlining operational efficiency.
• Valuation: At a trailing P/E of 17.8 and a Price-to-Book of 2.03, NCC trades at a discount to many regional and global peers, considering its earnings growth and exceptionally strong pipeline, making the stock appear attractively valued on both current and forward metrics.
• Balance sheet strength: With a manageable debt-to-equity ratio of 21.24% and a comfortable cash position of ₹15.86 billion, NCC’s financial health underpins its ability to execute on its substantial order book and fund further expansion.
• Strategic Expansion: Notably, NCC is expanding its footprint into “smart meters” and emerging infrastructure verticals, diversifying end-market exposure and improving long-term growth resilience.

The company’s performance is further de-risked by its diversified portfolio—nearly 99% of revenue is drawn from multiple construction domains such as transportation, water, power, and now technology-enabled infrastructure. The fundamentals simply justify renewed interest at the current valuation.

Volume and Liquidity

NCC’s trading profile is a supporting factor for medium- and long-term investors:

• Average daily trading volume over the last three months stands at 6.38 million shares, indicative of solid liquidity—a sign of confidence and institutional participation.
• Float and shareholding: A broad base of shareholders, including 13.79% foreign institutional ownership and nearly 16% domestic institutional stake, provides additional trading support while retaining upside potential for price discovery.

Taken together, the sustained volume and healthy float suggest market participants remain actively engaged, ensuring dynamic valuation while reducing the risk associated with illiquidity.

Catalysts and Positive Outlook

Looking ahead, NCC’s prospects appear notably favorable based on several lined-up catalysts:

• Imminent project execution: The record order book provides operational visibility, with major revenue contributions expected from execution of BharatNet projects, large-scale transportation efforts, and water infrastructure schemes.
• Government tailwinds: Indian infrastructure and public works spending, central to the government’s policy agenda, will continue to benefit major EPC players like NCC, particularly as new projects come up for tender.
• Sector innovation: The entry into the smart meters segment and enhancement of digital construction offerings positions NCC to capture a share of emerging, tech-driven infrastructure opportunities.
• ESG initiatives: NCC’s focus on water and environmental projects aligns well with global sustainability trends, potentially broadening its attractiveness to a wider range of investors.
• Analyst targets: Current consensus places the 12-month target price around ₹283.38, while a +30% scenario from current levels suggests near-term potential appreciation toward ₹300.

Together, these factors contribute to a context of upward momentum, both operationally and in terms of investor sentiment.

Investment Strategies

NCC’s recent correction from its 52-week high offers an intriguing technical and fundamental entry point for a range of positioning strategies:

• Short-term: With technical support evident at ₹224.1 and resistance at ₹233.9, traders may see opportunity in a breakout scenario, positioning ahead of further project updates or quarterly results.
• Medium-term: As fresh government contracts and increased capital expenditures begin to convert into actual top-line growth, a medium-horizon strategy could harvest income via both capital appreciation and a stable dividend yield (currently 0.94%).
• Long-term: Investors looking for sustained exposure to India’s infrastructure transformation may find NCC’s record order book, proven execution capabilities, and sector diversification compelling for portfolio allocation, especially as the company leverages multi-year public and private sector opportunities.

Regardless of time horizon, the present technical low and robust fundamental support create an ideal backdrop for new or incremental entry prior to anticipated catalysts.

Is It the Right Time to Buy NCC?

In summary, NCC Limited stands as a company with formidable strengths: a historic order book, rigorous financial discipline (22.1% ROCE, strong cash position), proven management, and a diversified portfolio at the core of India’s infrastructure revolution. The recent share price consolidation, occurring well above major support and in proximity to technical inflection points, seems to represent an excellent opportunity for investors seeking exposure to both the cyclical upturn and secular growth of the sector.

With limited downside implied by current technicals and broad-based positive catalysts on the horizon—from record project inflows and robust execution to expanding sector reach—NCC appears positioned to enter a new bullish phase. The underlying fundamentals, in particular, justify renewed interest at prevailing valuations, making this a standout case for consideration by investors in the UAE market seeking to capitalize on infrastructure-driven growth stories in high-potential emerging markets.

While disciplined risk management and ongoing monitoring are always prudent in the construction sector, the convergence of technical, fundamental, and macroeconomic factors offers a unique window of opportunity for those seeking growth and stability. For investors seeking a blend of momentum and foundational strength, NCC may well offer one of the most compelling infrastructure investment profiles as we look toward 2025.

Above all, NCC’s combination of record visibility, improving profitability, and strategic expansion into new verticals plants the seeds for a renewed phase of outperformance—making it a stock that certainly deserves to be on the radar of every discerning investor keen on capturing the upside of the infrastructure megatrend.

How to buy NCC stock in the UAE?

Buying NCC Limited (NCC.NS) stock online is straightforward and secure when using a regulated broker licensed in the UAE. Investors have two main ways to take a position: you can either buy shares at the spot price and become a shareholder, or trade NCC stock using Contracts for Difference (CFDs), allowing you to speculate on price movements without owning the shares. Both methods are accessible from your computer or mobile, and robust security measures from regulated platforms help protect your investment. To make the best choice, it’s wise to review and compare the leading brokers in the UAE—see our detailed comparison further down this page.

Spot Buying (Cash Purchase)

When you buy NCC stock for cash, you acquire real shares, becoming a part-owner in the company with voting rights and possible dividend payments. This method suits investors seeking long-term exposure. UAE brokers typically charge a fixed commission per order—often around $5 (around AED 18).

Example

Let’s say the NCC share price is ₹231.19 (about $2.78 [exchange rate: 1 USD ≈ ₹83]).
With a $1,000 stake, after deducting a $5 commission, you have $995 to invest. You can purchase around 358 shares ($995 ÷ $2.78 ≈ 358).

✔️ Gain Scenario:
If the NCC share price rises by 10%, your shares would now be worth $1,100.
Result: That’s a $100 gross gain, or +10% on your initial investment.

Trading via CFD

CFDs (Contracts for Difference) let you trade NCC shares without owning them—ideal for those looking to benefit from both rising and falling prices. Instead of paying a commission, your main costs are the spread (the difference between buying and selling price) and a daily overnight financing fee if holding leveraged positions.

Example

You open a CFD position on NCC with $1,000 of your funds and apply 5x leverage, giving you $5,000 market exposure.

✔️ Gain Scenario:
If the NCC share price increases by 8%, your leveraged position grows by 40% (8% × 5).
Result: You earn a $400 gain on your $1,000 stake (excluding fees).

Final Advice

Before making any investment, it’s essential to compare trading platforms—their fees, available features, and regulatory protections can vary. Whether you choose to invest in NCC shares directly or via CFDs should reflect your personal goals, risk profile, and preferred investment horizon. You’ll find an in-depth broker comparison further down this page to help you make an informed choice. Remember: there’s a solution for every investor—choose what best fits your objectives.

Our 7 tips for buying NCC stock

The latest news about NCC

NCC Limited reported a record order book of ₹71,568 crores, providing more than three years of revenue visibility. This indicates sustained demand for the company’s services in core infrastructure sectors like buildings, transportation, water, and smart metering, allowing for stable long-term growth. The robust order inflow, including ₹1,663 crores worth of new contracts in April 2025 and ₹5,773 crores in March 2025, positions NCC for solid future revenues and enhances its bidding credentials across domestic and international projects—factors that are typically valued by investors in dynamic growth markets such as the UAE, where infrastructure exposure aligns with local investment strategies.

NCC achieved double-digit profit growth in both its latest quarterly and annual results, outperforming many peers in the sector. For the quarter ending March 2025, net profit rose by 6% year-over-year to ₹265 crores, and annual net profit climbed 12% to ₹868 crores. This outperformance is supported by a stable operating profit margin of 9% and an annual EPS of ₹13.06, demonstrating financial resilience despite short-term revenue headwinds. Such profitability metrics may appeal to asset managers and institutional investors in the AE region seeking relatively stable and growing emerging market equities with robust cash flow backing.

The company announced a ₹2.20 per share dividend for Q4 FY25, reflecting a continued commitment to shareholder returns. With an overall dividend yield of 0.94% and a payout ratio of 19.6%, NCC maintains a balanced capital allocation policy, distributing profits while retaining sufficient earnings to fund growth. This consistency can be attractive for sovereign investors or pension funds in the UAE that have a preference for regular income and prudent management in overseas holdings, especially within high-growth infrastructure sectors.

NCC’s technical indicators suggest mild bullish momentum, offering encouraging signals to investors monitoring short-term entry points. As of the most recent update, the Relative Strength Index (RSI) stands at 60.35, the MACD indicator shows a bullish reading, and the stock price is trading close to its near-term resistance with strong support levels established. While still trading considerably below its 52-week high, these signs of stabilization and potential upward momentum may offer favorable timing considerations to traders and professional asset allocators in the AE region looking to capitalize on recovery cycles in quality infrastructure names.

NCC’s growing presence in the smart meters and digital infrastructure segment marks a positive diversification in line with regional priorities. The company’s new contracts for BharatNet projects and expanding expertise in smart metering resonate with the digital transformation agenda that is highly relevant in the UAE and wider GCC. This diversification reduces reliance on traditional construction, aligns with global sustainability and digitalization trends, and enhances NCC's attractiveness as a play on both classic and future-ready infrastructure themes favored by regional strategic investors.

FAQ

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.