HCC advances after receiving contract from NHAI

Hindustan Construction Company rose 3.36% to Rs 18.45 at 10:45 IST on BSE after National Highways Authority of India awarded contract worth Rs 1783.42 crore to the company.

The company made announcement during market hours today, 24 September 2015.

Meanwhile, the BSE Sensex was down 56.52 points, or 0.22%, to 25,766.47.

On BSE, so far 12.09 lakh shares were traded in the counter, compared with an average volume of 9.09 lakh shares in the past one quarter.

The stock hit a high of Rs 19.40 and a low of Rs 17.90 so far during the day. The stock hit a 52-week high of Rs 40.90 on 3 March 2015. The stock hit a 52-week low of Rs 16.35 on 25 August 2015.

The stock had underperformed the market over the past one month till 23 September 2015, falling 12.93% compared with Sensex's 5.64% fall. The stock had also underperformed the market in past one quarter, dropping 28.02% as against Sensex's 7.13% fall.

The mid-cap company has an equity capital of Rs 77.92 crore. Face value per share is Re 1.

Hindustan Construction Company (HCC) said the contract is for constructing a 36 kilometers (km) highway which includes 3 kms of tunnels between Ramban and Banihal in Jammu & Kashmir. The project is a part of National Highways Development Project (NHDP) phase-II program of National Highways Authority of India (NHAI) on NH1A (now NH44).

Net profit of HCC declined 70.4% to Rs 8.02 crore on 6.1% fall in total income to Rs 957.76 crore in Q1 June 2015 over Q1 June 2014.

HCC Group provides engineering & construction services.

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