 "HCC is first to get debt relief under RBI's S4A scheme")
Hindustan Construction Company (HCC) has rallied 7% to Rs 41, also its fresh 52-week high on the BSE, after the company said it has been awarded Rs 181.65 crore contract by the Department of Atomic Energy (DAE) to build premium high rise residential towers at Indira Gandhi Centre for Atomic Research, Kalpakkam in Tamil Nadu.
This is an item rate contract to be completed in 30 months.
“This is the second order HCC received from DAE for construction of residential towers for its officers. HCC is also currently constructing the six high rise residential towers of ground plus 18 floors housing 312 residential apartments for Senior Officers working at BARC Anushaktinagar,” HCC said in a statement.
Meanwhile, in past two-weeks, the stock surged 78% from Rs 23 on August 30, after the HCC on September 1, said the Union Cabinet's decision requiring the government agencies to pay 75% of arbitral awards would result in company’s debt being reduced by half.
At 09:45 am, the stock was up 5% at Rs 40 on the BSE, as compared to 0.17% rise in the S&P BSE Sensex. A combined 11.21 million shares changed hands on the counter on the BSE and NSE.
This is an item rate contract to be completed in 30 months.
“This is the second order HCC received from DAE for construction of residential towers for its officers. HCC is also currently constructing the six high rise residential towers of ground plus 18 floors housing 312 residential apartments for Senior Officers working at BARC Anushaktinagar,” HCC said in a statement.
Meanwhile, in past two-weeks, the stock surged 78% from Rs 23 on August 30, after the HCC on September 1, said the Union Cabinet's decision requiring the government agencies to pay 75% of arbitral awards would result in company’s debt being reduced by half.
At 09:45 am, the stock was up 5% at Rs 40 on the BSE, as compared to 0.17% rise in the S&P BSE Sensex. A combined 11.21 million shares changed hands on the counter on the BSE and NSE.
