Hindustan Construction Company (HCC) surged over 7 per cent on Wednesday after the company won Rs 181.65 crore contract from the Department of Atomic Energy (DAE) to build premium high rise residential towers at Indira Gandhi Centre for Atomic Research (IGCAR), Kalpakkam in Tamil Nadu. This is an item rate contract to be completed in 30 months.
At 12.29 pm, share price of the company was trading 5.25 per cent up at Rs 40.10. The scrip opened at Rs 39.25 and touched a high and low of Rs 40.65 and Rs 39.25, respectively. The scrip of the company settled the day 7.87 per cent up at Rs 41.10.
The scope of the project includes construction of five high-rise residential towers of ground plus 15 floors housing 600 apartments. The total built up area for the entire construction will be 7.5 lakh square feet. This facility would provide accommodation to Department of Atomic Energy Officers working at IGCAR, Kalpakkam.
In a BSE filing the company said, “This is the second order 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 towers housing 312 residential apartments for Senior Officers working at BARC Anushaktinagar.”
The BSE group ‘A’ stock of face value Rs 1 has touched a 52-week-high of Rs 40.20 on Sep 14, 2016 and a 52-week-low of Rs 16.60 on Feb 12, 2016.
The promoters holding in the company stood at 36.07 per cent, while Institutions and Non-Institutions held 23.91 per cent and 40.03 per cent respectively.
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.