The share price of National Buildings Construction Company (NBCC) surged over 8 percent intraday on Tuesday after the Supreme Court ordered the release of Rs 7.16 crore to NBCC to finish Amrapali projects.

Share Market Live

NSE

At 10:15 AM, NBCC's shares were trading 8.46 percent higher at Rs 35.90 per share on the NSE. Intraday, the shares gained 8.78 percent to Rs 35.95. The stock jumped 12 percent this week alone.

A division bench of Justice Arun Mishra and Justice U.U. Lalit also directed that a copy of the forensic audit report be submitted to the Enforcement Directorate, Delhi Police and the Institute of Chartered Accountants in India (ICAI) for taking appropriate action against Amrapali directors and auditors for siphoning off over Rs 3,000 crore of homebuyers' money.

On July 23, the top court cancelled real estate company Amrapali Group's Real Estate Regulatory Authority's licence and appointed state-run NBCC to complete all pending projects.

The court has observed that the group prima facie committed a violation of the FEMA (Foreign Exchange Management Act) and other fraudulent activities, including money laundering, and recommended a thorough investigation by the Enforcement Directorate to identify the culprits.

Catch all the latest and live updates here on CNBC TV18 Market Live Blog.

Disclaimer: CNBCTV18.com advises users to check with certified experts before taking any investment decisions.