Stock of this construction company has zoomed 88% in 14 trading sessions

Shares of Hindustan Construction Company (HCC) hit an over three-year high of Rs 17.82, up 14 per cent on the BSE in Friday’s intra-day trade. The stock of construction & engineering company was trading at its highest level since May 2018. In the past 14 trading days, it zoomed 88 per cent from Rs 9.47 on November 22, 2021.

At 02:27 pm; HCC traded 12 per cent higher at Rs 17.56, as compared to 0.28 per cent decline in the S&P BSE Sensex. A combined 52.65 million equity shares changed hands on the NSE and BSE. The stock had hit a record high of Rs 125 on January 2, 2008.

Order wins

On November 15, 2021, HCC had announced that the company in consortium with KEC International Limited (KEC), has been awarded Rs 1,309 crore contract by Chennai Metro Rail Limited for the construction of 11.61 km elevated viaduct section and eleven elevated stations on Corridor 5 of phase II of the Chennai Metro. This was the second order secured by the HCC-KEC Consortium for Chennai Metro. HCC's share in the JV stands at 51 per cent (i.e. Rs 668 crore), the company said.

Currently, HCC is executing a section of Mumbai Metro Line Ill, one package of Delhi Metro, two contracts for Pune Metro, one package of Bangalore Metro Rail Project and one package of Chennai Metro.

Earlier, HCC had been associated with six segments of the Delhi Metro, totalling 18.14 km of tunnels and 13 underground stations. In Kolkata Metro, HCC has constructed 6.47 km tunnels in six segments that include four underground stations. In Mumbai Metro I, the company has built eight elevated stations, the company said.

HCC has executed a majority of India's landmark infrastructure projects, having constructed 27 per cent of India's Hydro Power generation and 60 per cent of India's Nuclear Power generation capacities, over 3,960 lane km of Expressways and Highways, more than 360 km of complex Tunnelling and 383 Bridges.