HCC gains after winning contracts

Hindustan Construction Company rose 1.14% to Rs 35.35 at 13:41 IST on BSE after the company said it won two contracts worth Rs 634.79 crore in transportation and hydel power segments.

The announcement was made during trading hours today, 5 November 2014.

Meanwhile, the BSE Sensex was up 46.95 points, or 0.17%, to 27,907.33.

On BSE, so far 18.76 lakh shares were traded in the counter, compared with an average volume of 10.85 lakh shares in the past one quarter.

The stock hit a high of Rs 36.65 and a low of Rs 34.65 so far during the day. The stock hit a 52-week high of Rs 49 on 1 July 2014. The stock hit a 52-week low of Rs 11.45 on 26 November 2013.

The stock had outperformed the market over the past one month till 3 November 2014, rising 8.54% compared with 4.86% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 11.29% as against Sensex's 9.34% rise.

The mid-cap company has an equity capital of Rs 64.58 crore. Face value per share is Re 1.

HCC said the first contract worth Rs 454.89 crore is from the Ministry of Road Transport and Highway (MoRTH) for 4-laning of 50.5 km long Nurnaligarh to Jorhat section of NH-37 in Assam. The project includes rehabilitation, upgradation and augmentation of the existing carriageway, major and minor bridges, culverts, road intersections, interchanges and drains, etc.

The second contract, worth Rs 179.90 crore, from Himachal Pradesh Power Corporation (HPPCL) for the balance works of head race tunnel of 111 MW Sawra Kuddu hydel power project in Shimla district of Himachal Pradesh.

Net profit of HCC declined 78.61% to Rs 6.76 crore on 4.71% rise in net sales to Rs 931.59 crore in Q2 September 2014 over Q2 September 2013.

HCC is an infrastructure developer. It has executed a majority of India's landmark infrastructure projects, having constructed 25% of India's hydel power generation and over 50% of India's nuclear power generation capacities, over 3500 lane km of expressways and highways, more than 288 km of complex tunneling and over 350 bridges.

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