Hindustan Construction Company (HCC), in a joint venture with Vensar Constructions Company (VCCL), has been awarded Rs 236 crore orders in two separate contracts from the Northeast Frontier Railway.
The order is for the construction of Single Line BG Tunnels Lot 14A and Lot 15A on a 51.38 km long Bairabi-Sairang New BG Rail line in Manipur. "HCC share in the JV is 55% (approximately Rs 130 crore), the company said in a BSE made today (30 November 2020).
Indian Railways is implementing various projects to improve its network across North-East India. One of the major railway projects, 51.38 Km long Bairabi-Sairang New BG Rail line, is all set to give a massive boost to the rail connectivity in the region, as it will connect Mizoram to the Indian Railways network up to Bairabi railway station, which is the gateway to the state.
The new rail line project includes 32 underground tunnels, 55 major bridges, 87 minor bridges, 16 cut and cover tunnels, 5 road under bridges (RUB), and 5 road over bridges (ROB). The line will cover four railway stations, namely Hortoki, Kawnpui, Mualkhang, and Sairang.
HCC is engaged in engineering and construction activities. It serves the infrastructure sectors of transportation, power and water.
The company reported a consolidated net loss of Rs 476.61 crore in Q2 FY21 as compared to a net loss of Rs 398.10 crore in Q2 FY20. Net sales during the quarter declined by 7.2% YoY to Rs 1810.17 crore.
Shares of HCC slipped 1.20% to end at Rs 5.78 on Friday. On a year-to-date (YTD) basis, the stock has lost 42.54% while the benchmark S&P BSE Sensex gained 7.02% during the same period.
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