HCC shares soar as JV secures Rs 2,470 crore Tata Power contract

Hindustan Construction Company (HCC) surged 13.01% to Rs 27.80 after the company announced that its 50:50 joint venture with Tata Projects Limited (TPL) has been awarded a Rs 2,470 crore contract by Tata Power Company.

The project involves the construction of the Bhivpuri Off-Stream Open-Loop Pumped Storage Project (PSP), a 1000 MW facility located in Karjat, Maharashtra. The Bhivpuri PSP will consist of four units: two 333 MW units and two 167 MW units. The scope of work entrusted to the HCC-TPL joint venture encompasses a wide range of civil and hydro-mechanical (H&M) components.

HCC is engaged in the engineering and construction of large infrastructure projects. The company reported a consolidated net loss of Rs 38.92 crore in Q3 December 2024 as against net profit of Rs 182.30 crore in Q3 December 2023. Net sales declined 31.72% year-on-year to Rs 1,006.81 crore in Q3 FY25.

 

Powered by Capital Market - Live News