Shares of Hindustan Construction Company (HCC) rallied as much as 8.85 per cent on Tuesday after the company in joint venture with MMS Russia bagged a contract worth of Rs 2,523 crore from the Mumbai Metro Rail Corporation (MMRCL).
At 1.12 pm, shares of HCC was trading 6.22 per cent up at Rs 22.20. The scrip opened at Rs 20.90 and has touched a high and low of Rs 22.75 and Rs 20.90, respectively, in trade so far. Later, share price of the company closed 10.29 per cent up at Rs 23.05.
The contract is for construction of 4,072 meter corridor of the underground metroline including four underground stations at Chatrapati Shivaji Terminus, Kalbadevi, Girgaon and Grant Road and twin bored tunnels of total length of 3,115 m. The project is to be completed in 55 month.
This is part of the Line 3 of the Mumbai Metro from Colaba to SEEPZ. When completed, the 33.50 km long line with 26 underground and one at-grade station will be the first underground metro line in Mumbai.