Hindustan Construction Company rose 1.9% to Rs 24.10 at 12:53 IST on BSE after the company won a contract worth Rs 1749.59 crore from IRCON International to construct two tunnels and a bridge.
The announcement was made during market hours today, 26 July 2016.Meanwhile, the S&P BSE Sensex was up 30.06 points or 0.11% at 28,125.40
On BSE, so far 12.87 lakh shares were traded in the counter as against average daily volume of 8.13 lakh shares in the past one quarter. The stock hit a high of Rs 24.75 and a low of Rs 23.30 so far during the day. The stock had hit a 52-week high of Rs 29.20 on 21 October 2015. The stock had hit a 52-week low of Rs 16.35 on 25 August 2015. The stock had outperformed the market over the past one month till 25 July 2016, rising 24.15% compared with Sensex's 6.43% rise. The scrip, however, underperformed the market in past one quarter, gaining 8.24% as against Sensex's 9.41% rise.
The small-cap company has equity capital of Rs 77.92 crore. Face value per share is Re 1.
Hindustan Construction Company (HCC) won contract from IRCON International to construct two tunnels and a bridge on Katra - Banihal Section of Udhampur Srinagar Baramulla New BG Railway Line Project. The project will be completed in 30 months. HCC said. The contract involves construction of two main tunnels totaling 12.8 km along with parallel safety tunnels, a 200 m bridge adjoining these two tunnels and a station yard at Basindadhar, the company said.
IRCON International, an autonomous constructing agency for the Indian Railways, was entrusted with the task to construct of Baramulla 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.
HCC's net profit declined 7.3% to Rs 19.14 crore on 4.6% growth in net sales to Rs 1171.88 crore in Q4 March 2016 over Q4 March 2015.
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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