Hindustan Construction Company surged 8.92% to Rs 41.50 at 13:32 IST on BSE after the company said it has secured a contract worth Rs 181.65 crore from the Department of Atomic Energy.
The company made the announcement yesterday, 13 September 2016 when the stock market was closed on account of Bakri Id.Meanwhile, the S&P BSE Sensex was up 12.22 points or 0.04% at 28,365.76.
On BSE, so far 62.61 lakh shares were traded in the counter as against average daily volume of 20.03 lakh shares in the past one quarter. The stock hit a high of Rs 41.50 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 39.25 so far during the day. The stock had hit a 52-week low of Rs 16.60 on 12 February 2016. The stock had outperformed the market over the past one month till 12 September 2016, surging 72.01% compared with 0.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, jumping 92.42% as against Sensex's 6.45% rise.
The small-cap company has equity capital of Rs 77.92 crore. Face value per share is Rs 1.
The latest order from the Department of Atomic Energy is to build premium high rise residential towers at Indira Gandhi Centre for Atomic Research, Kalpakkam, Tamil Nadu. This is an item rate contract to be completed in 30 months.
Net profit of Hindustan Construction Company (HCC) rose 17.5% to Rs 10.88 crore on 1.7% rise in net sales to Rs 899.32 crore in Q1 June 2016 over Q1 June 2015.
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HCC is into infrastructure development in transportation, power and water segments. HCC is developing a planned hill city named Lavasa near Pune in Maharashtra.
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