HCC shares rise 6% as JV secures Rs 2,191-cr order for Indore Metro

Hindustan Construction Company shares gained 5.9 per cent on BSE, logging an intraday high at Rs 23.95 per share in Tuesday's trade. The stock rallied after the company's joint venture (JV) with Tata Projects for Rs 2,191 crore.

 

Around 11:40 AM, Hindustan Construction Company share price was up 2.17 per cent at Rs 23.1 per share on BSE. In comparison, the BSE Sensex was up 0.47 per cent at 74,174.90. The market capitalisation of the company stood at Rs 4,199.14 crore. The 52-week high of the stock was at Rs 57.46 per share and the 52-week low was at Rs 21.98 per share.

 

Under the contract, the Hindustan Construction Company will build a 8.65 km long corridor including underground tunnels and stations for Madhya Pradesh Metro Rail Corporation Limited (MPMRCL). 

 

"The package IN-05R is the first and only underground segment of the 31.32 km Indore Metro Phase 1 project. The package includes the construction of 11.32 km long tunnel by TBM and seven underground stations at Indore Railway Station, Rajwada, Chota Ganpati, Bada Ganpati, Ramchandra Nagar, BSF/Kalani Nagar, and Airport, connecting a ramp east of Indore Railway Station to a ramp west of Airport Station," the filing read.

 

As per the filing, currently, Hindustan Construction Company is engaged in Mumbai Metro Line III, constructing 4 km of twin tunnels and four stations, along with two Chennai Metro packages. The company has made a significant contribution to India's metro expansion plan having constructed of a material portion of Delhi Metro, Bangalore Metro, Mumbai Metro Line I and Kolkata Metro. 

 

HCC is a business group developing and building responsible infrastructure through next practices. With an engineering heritage of nearly 100 years, HCC has executed a majority of India's landmark infrastructure projects, having constructed 26 per cent of India's Hydro Power generation and 60 per cent of India's Nuclear Power generation capacities, over 4,036 lane km of Expressways and Highways, more than 402 km of complex Tunnelling and 403 Bridges.

 

In the past one year, Hindustan Construction Company shares have lost 33 per cent against Sensex's rise of 1.4 per cent.