HCC shares soar over 10.5% as JV wins Rs 2,523 cr contract

Shares of infrastructure major Hindustan Construction Company (HCC) today surged over 10.5 per cent after the company said its JV with a Russian firm has won a Rs 2,523-crore order from Mumbai Metro Rail Corporation (MMRCL).
The stock soared 10.29 per cent to settle at Rs 23.05 on BSE. During the day, it jumped 11.96 per cent to Rs 23.40.
At NSE, shares of the company surged 10.52 per cent to settle at Rs 23.10.
The company added Rs 167.96 crore to Rs 1,795.96 crore in market valuation.
On the volume front, 59.23 lakh shares of the company were traded at BSE and over 2 crore shares changed hands at NSE during the day.

HCC is the lead partner in the joint venture(JV).

"The contract is for construction of 4,072 metre of corridor of the underground metro line including four underground stations at Chatrapati Shivaji Terminus, Kalbadevi, Girgaon and Grant Road and twin bored tunnels of length of 3,115 m," the company said in a statement.
The project is to be completed in 55 months.
This is part of the line-3 of the Mumbai Metro from Colaba to SEEPZ.