New order boosts Hindustan Construction

Hindustan Construction Company rose 3.05% to Rs 18.60 at 14:23 IST on BSE after the company said it has been awarded an Rs 300 crore contract by Delhi Metro Rail Corporation.

The announcement was made at the fag end of trading hours on Wednesday, 16 April 2014.

Meanwhile, the S&P BSE Sensex was up 297.15 points or 1.33% at 22,574.38.

On BSE, so far 8.19 lakh shares were traded in the counter as against average daily volume of 6.17 lakh shares in the past one quarter.

The stock hit a high of Rs 18.90 and a low of Rs 18.40 so far during the day. The stock hit a 52-week high of Rs 19.80 on 11 April 2014. The stock hit a 52-week low of Rs 7.75 on 2 August 2013.

The stock had outperformed the market over the past one month till 16 April 2014, surging 21.71% compared with the Sensex's 2.14% rise. The scrip had also outperformed the market in past one quarter, jumping 27.56% as against Sensex's 4.76% rise.

The small-cap company has equity capital of Rs 60.66 crore. Face value per share is Re 1.

Hindustan Construction Company (HCC) said it has been awarded an Rs 300 crore contract by Delhi Metro Rail Corporation (DMRC). This contract is for design and construction of 1.54 KM long twin tunnel on Dwarka-Najafgarh metro corridor of phase Ill of Delhi Metro. This is the third contract for underground metro received by HCC since October 2012 under the phase Ill development of Delhi Metro aggregating Rs 1539 crore, HCC said. The construction work would be completed in 36 months, it added.

On winning contracts, Arun Karambeklar, President and Whole Time Director, HCC said, "HCC has been undertaking challenging assignments in underground metro development and repeat order from DMRC reflects our ability to execute complex assignments. Last month, HCC completed the 'up-line tunnel' of CC30 package well ahead of all peers working on phase III development".

HCC reported a net profit of Rs 5.39 crore in Q3 December 2013 compared with a net loss of Rs 38.51 crore in Q3 December 2012. Net sales fell 16% to Rs 852.11 crore in Q3 December 2013 over Q3 December 2012.

HCC is India's leading infrastructure company. HCC has executed a majority of India's landmark infrastructure projects, including the Bandra Worli Sea Link, Mumbai - India's first and longest open sea cable-stayed bridge; the Kolkata Metro, Farakka Barrage and India's largest nuclear power plant at Kudankulam - Tamil Nadu, to name a few. Today, HCC serves the infrastructure sectors of Transportation, Power and Water. HCC is also developing Lavasa City, a planned hill city and one of India's largest urban development and management initiatives. The HCC Group, with a group turnover of Rs 8,510 crore, comprises of HCC, HCC Infrastructure Co., HCC Real Estate, Lavasa Corporation and Steiner AG in Switzerland.

Powered by Capital Market - Live News