HCC gains on construction order worth Rs 231 cr

Hindustan Construction Company (HCC) has moved higher by 3% at Rs 18.30 after the company said it secured a construction order worth of Rs 231 crore in joint venture with Coastal Projects from the Northeast Frontier Railway.

“HCC in joint venture with Coastal Projects has been awarded a project by Northeast Frontier Railway to develop a railway tunnel between Kalmai Road and Kambiron Road stations on the new railway line being developed between Jiripam and Tupur in Imphal,” HCC said in a statement.

“The total cost of the projects is Rs 230.98 crore and the company’s share in the total value of the contract is 60% i.e. Rs 138.59 crore,” it added. The project will be completed in 28 months.

 

The stock opened at Rs 17.90 and hit a high of Rs 18.40 on the NSE. A combined 2.02 million shares have changed hands on the counter so far on both the exchanges.