Sub 10% rate will do wonders to industry: NCC

The RBI’s rate cut bodes well for the industry, says NCC, but it is critical to watch how much of it will be passed on by the lenders. If rates are cut to the tune of 100 bps and if it is passed on, then it will add Rs 25 crore to the full year bottomline.



Given the recently-acquired balance sheet strength, NCC plans to repay high cost term debt of Rs 600 crore using proceeds of the rights issue. Analysts say once this debt is repaid, NCC will have residual standalone debt of Rs 2,200 crore which would be entirely working capital debt and will also help improve credit rating.



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Posted in: Indian Market Tips