Hindustan Construction Company rose 4.07% to Rs 43.45 at 14:06 IST on BSE, extending yesterday's rise triggered by the company winning a Rs 368.60 crore contract from IRCON International.
The company made the announcement during trading hours yesterday, 9 January 2017. Shares of Hindustan Construction Company (HCC) rose 0.36% to settle at Rs 41.75 on that day, amid choppy market sentiment. The stock has risen 4.45% in two sessions from its close of Rs 41.60 on Friday, 6 January 2017.Meanwhile, the BSE Sensex was up 171.22 points, or 0.64%, to 26,897.77.
On the BSE, so far 23.83 lakh shares were traded in the counter, compared with average daily volumes of 20.75 lakh shares in the past one quarter. The stock had hit a high of Rs 44.85 and a low of Rs 43.15 so far during the day.
The stock hit a 52-week high of Rs 44.85 on 10 January 2017. The stock hit a 52-week low of Rs 16.60 on 12 February 2016. The stock had outperformed the market over the past 30 days till 9 January 2016, rising 5.83% compared with the 0.08% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 19.46% as against Sensex's 4.83% decline.
The mid-cap infrastructure company has equity capital of Rs 77.92 crore. Face value per share is Re 1.
Hindustan Construction Company (HCC) said it was awarded a Rs 368.60 crore contract by IRCON International for construction of the cable stayed bridge including its approaches across river Anji Khad in Jammu & Kashmir. The project is to be completed in 36 months.
This bridge will connect Tunnel T2 and T3 on KatraBanihal Section of UdhampurSrinagarBaramulla Rail Link Project. The total length of the bridge is 473.25 m, including its approaches across river Anji Khad. With a 290 meter long main span, this will be the longest cable stayed bridge for Indian Railways.
This is the fifth order HCC has received from IRCON international. The first order was to construct 11 km long Pir Panjal Railway Tunnel, the longest transportation tunnel in India, which has been successfully commissioned. The second and third order is construction of 10.2 km long T48 tunnel between Sumber and Sangaldan stations and 5.1 km long tunnel T49A which are currently under construction. And the fourth order being executed is the construction of two main tunnels (T13 & part of T14) with parallel safety tunnels, a 200 m bridge adjoining these two tunnels and a station yard at Basindadhar.
HCC's net profit declined 42.8% to Rs 23.08 crore on 8.2% decline in net sales to Rs 759.03 crore in Q2 September 2016 over Q2 September 2015.
HCC develops and builds infrastructure.
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