Nitco shares jump 3% after securing additional Rs 45 crore order from Prestige Estates
Nitco Ltd. shares rose 3% in early trade after the company announced a new business development with Prestige Estates Projects Ltd. Building on previous orders worth ₹216 crore, Nitco has now received a Letter of Intent (LoI) for an additional tile supply order valued at approximately ₹45 crore. This takes the total order value from Prestige to ₹261 crore.
The deal covers the supply of premium Tiles, Marble, and Mosaic products and is expected to be executed over the next 12 months. Nitco confirmed that the order is domestic and does not fall under related party transactions.
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This marks a significant milestone in Nitco's long-standing collaboration with Prestige Estates—one of India's leading real estate developers. The continued partnership not only reflects strong demand for Nitco's product range but also reaffirms its execution strength in large-scale supply contracts.
The development further strengthens Nitco's position in the institutional supply space and boosts its order book for FY2025- 26.
Nitco shares moved in a tight range today, opening at ₹133.00 and, at the time of reaching, an intraday high of ₹135.00. The stock touched a low of ₹131.81 during the session. With its 52-week range between ₹69.00 and ₹150.00, Nitco continues to trade with moderate momentum.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
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