Hindustan Construction Company jumped 4.35% to Rs 15.60 at 9:54 IST on BSE after the company won a contract worth Rs 442.52 crore from IRCON International.
The company made the announcement after market hours on Thursday, 2 January 2014
Meanwhile, the BSE Sensex was down 71.34 points, or 0.34%, to 20,816.99.
On BSE, so far 2.67 lakh shares were traded in the counter, compared with an average volume of 8.35 lakh shares in the past one quarter.
The stock hit a high of Rs 15.80 and a low of Rs 15.30 so far during the day. The stock hit a 52-week high of Rs 20.85 on 9 January 2013. The stock hit a 52-week low of Rs 7.75 on 2 August 2013.
The stock had outperformed the market over the past one month till 2 January 2014, rising 17.35% compared with the Sensex's 0.05% fall. The scrip had also outperformed the market in past one quarter, gaining 49.65% as against Sensex's 7.03% rise.
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The small-cap company has an equity capital of Rs 60.66 crore. Face value per share is Re 1.
Hindustan Construction Company (HCC) said it won a contract worth Rs 442.52 crore from IRCON International to construct one tunnel and two bridges between Aprinchala and Sumber stations on Dharam and Qazigund Section of the Udhampur - Srinagar - Baramulla New Broad Gauge Railway Line Project. The project will be completed in 48 months.
The contract involves construction of 5.1 kilometre (km) long tunnel T49A, substructure of 445m long Bridge 2 and 346m long Bridge 3 and earthworks at Surnber Yard totaling about 6.4 km stretch on Dharam-Qazigund Section of the J&K Rail link. This stretch is contiguous with 10.2 km long T48 tunnel between Sumber and Sangaldan stations which is currently under construction by HCC. The company had received the order of T48 tunnel in September 2012 after successful completion of Pir Panjal Railway tunnel, the longest transportation tunnel in India, HCC said in a statement.
IRCON International, an autonomous constructing agency for the Indian Railways, was entrusted with the task to construct Bararnulla to Dharam section of the Udhampur - Srinagar - Baramulla rail link. The railway line from Baramulla to Quazigund (119 km) was operational for public since October 2009. The Pir Panjal tunnel constructed between Quazigund and Banihal was inaugurated in July 2013, extending the train service till Banihal, the company said.
HCC reported a net profit of Rs 31.60 crore in Q2 September 2013 as against net loss of Rs 17.87 crore in Q2 September 2012. Net sales rose 2.8% to Rs 889.65 crore in Q2 September 2013 over Q2 September 2012.
HCC serves the infrastructure sectors of transportation, power and water. HCC is also developing Lavasa City, a planned hill city and one of India's largest urban development and management initiatives. HCC has executed a majority of India's landmark infrastructure projects, having constructed 25% of India's hydel power generation and over 50% of India's nuclear power generation capacities, over 3,500 lane kilometer (km) of expressways and highways, more than 288 km of complex tunneling and over 350 bridges. The HCC Group comprises of HCC, HCC Infrastructure Co., HCC Real Estate, Lavasa Corporation and Steiner AG in Switzerland.
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