HCC surges as its JV secures order worth Rs 368 crore in Manipur


hcc-surges-as-its-jv-secures-orderHCC is currently trading at Rs. 35.55, up by 1.75 points or 5.18% from its previous closing of Rs. 33.80 on the BSE.

The scrip opened at Rs. 33.90 and has touched a high and low of Rs. 35.80 and Rs. 33.80 respectively. So far 17,65,000 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 41.90 on 14-Sep-2016 and a 52 week low of Rs. 16.60 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 35.80 and Rs. 33.35 respectively. The current market cap of the company is Rs. 2,769.91 crore.

The promoters holding in the company stood at 36.07%, while Institutions and Non-Institutions held 24.93% and 39.00% respectively.

Hindustan Construction Company (HCC) in joint venture with Vensar Constructions Company (VCCL), has been awarded Rs 367.72 crore contract by the Northeast Frontier Railway to construct a safety tunnel between Tupul and Imphal in Manipur state. This is part of the new Railway line project being constructed between Jiribam and Imphal of Northeast Frontier Railway. The project is to be completed in 4 years. The scope of the project includes construction of 9.5 km long safety tunnel between Tupul and Imphal. This tunnel runs parallel to the main broad gauge single line tunnel (T-12) which is also being constructed by the HCC—VCCL joint venture.

This is the 5th order HCC received from Northeast Frontier Railway on the new Railway line project being constructed between Jiribam and Imphal. The 110.63 km long Jiribam-Imphal railway line is being constructed in two phases. The 84 km long first phase between Jiribam and Tupul has 34 tunnel measuring 39.4 km of which HCC is involved in 41% of this tunnelling work which include the biggest 4 tunnels, totally measuring 16.15 km. The second phase covers 26 km of the Tupul-Imphal section. Once the project is completed, Manipur will have full-fledged railway connectivity with the rest of the country.

HCC is a leader in engineering and construction space. The company has established a vast presence and gained recognition in the sectors of Hydro Power, Water Solutions, Transportation and Nuclear Power.

Source: http://money.livemint.com/


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