Noc and transfer release both different. Only NOC means you need to go back your Country and shall come on new visa, you can do this 100 times no problem.
Sponsership transfer meand you need NOC plus sponsership change available MOI format paper. First paragraph sign by you and 2nd para sign and seal by your current company and verified by MOI then 3rd pata sign and sealed by your new company and then verified by MOI after that your sponsership change change.

After that it's your luck to change sponsership in one step or may be immigration rejected by saying that it's blocked in labor department then again you need to follow up with labor department.No body knows what will happen even you have 100% correct documents as required.

My advise don't waste time on change sponsership better ask NOC only and exit and will come back on new visa.

If u ve loan from bank or family hete then NOC cannot work then you need only sponsership change step.

Anyways both are not easy. Since I went through in both cases. Only God can help you in both cases.

Thats why make proper plan before to do any thing.