Shares of NBCC rallied over 5 per cent on early Friday as the company is set to buy out 100 per cent government stake in consultancy firm HSCC for Rs 285 crore.The scrip gained as much as 5.46 per cent to Rs 70.50.DIPAM intimated vide letter dated September 13, 2018, that NBCC has been selected as the buyer for 100 per cent strategic disinvestment of HSCC at a bid amount of Rs 285 crore, NBCC said in a filing to the BSE.The government last October invited bids from similarly placed central public sector enterprises (CPSEs) for buying out entire 100 per cent stake in HSCC, along with management control.Thereafter, in June 2018, NBCC had submitted financial bid for buying HSCC.Hospital Services Consultancy Corporation (HSCC), under the Ministry of Health and Family Welfare, is engaged in the provision of consultancy services in healthcare and other social sectors in India and abroad.
The government will also transfer management control through a competitive bidding process.