Financial Wire

NBCC (India) Emerges as Highest Bidder for Commercial Tower in New Delhi, India

-- NBCC (India) (NSE:NBCC, BOM:534309) has emerged as the highest bidder in an e-auction for the purchase of a commercial tower at the Bharat Business Park, Sarojini Nagar in New Delhi, India, according to a Friday filing to the Indian stock exchanges.

The total investment by the construction and infrastructure company for the proposed purchase is estimated at 13.7 billion Indian rupees, payable in stages on a construction-linked basis.

The acquisition is subject to the completion of necessary formalities and execution of definitive agreements.

The company's shares were up nearly 1% in recent trade.

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