Hindustan Construction Company rose 3.34% to Rs 43.30 at 11:57 IST on BSE after the company said its joint venture with AL FARA'A was awarded Rs 484 crore contract for Pune Metro Rail Project.
The announcement was made during market hours today, 8 January 2018.Meanwhile, the S&P BSE Sensex was up 184.72 points or 0.54% at 34,338.57. The S&P BSE Mid-Cap index was up 151.95 points or 0.84% at 18,221.98.
On the BSE, 15.78 lakh shares were traded on the counter so far as against average daily volumes of 14.87 lakh shares in the past one quarter. The stock had hit a high of Rs 44 and a low of Rs 42.05 so far during the day. The stock had hit a 52-week high of Rs 48 on 25 April 2017 and a 52-week low of Rs 31.90 on 27 November 2017.
The mid-cap company has equity capital of Rs 101.55 crore. Face value per share is Re 1.
Hindustan Construction Company (HCC) said that the company as a lead partner in joint venture (JV) with AL FARA'A has been awarded Rs 484 crore contract by the Maharashtra Metro Rail Corporation for Pune Metro Rail Project. HCC's share in the JV is 51% i.e Rs247 crore.
The contract is for construction of eight elevated metro rail stations on line II (E-W Corridor) of Pune Metro Rail Project. The work involves general and structural civil work of the station buildings and architectural & site development. The 14.66 km long line II of Pune Metro is completely elevated and has 16 stations out of which 8 are being built by HCC.
HCC's net profit fell 49.7% to Rs 11.60 crore on 6.5% growth in net sales to Rs 970.75 crore in Q2 September 2017 over Q2 September 2016.
HCC serves the infrastructure sectors of transportation, power and water. The HCC group, comprises of HCC, HCC Infrastructure Co, Lavasa Corporation and Steiner AG in Switzerland.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
