Hindustan Construction Company (HCC) shares gained as much as 8.7 per cent intra-day on Thursday after the company informed BSE that it has bagged a Rs 1,783.42-crore contract from NHAI for construction of a highway in Jammu & Kashmir (J&K).
At 1.28 pm, HCC shares were trading 3.08 per cent higher at Rs 18.40 apiece. The scrip opened at Rs 18 and had touched a high and low of Rs 19.40 and Rs 17.90, respectively, in trade so far. Sensex was down 0.17 per cent at 25,778.48.
Later, the scrip closed 1.68 per cent up at Rs 18.15.
“The company has been awarded a prestigious NHAI contract worth Rs 1,783.42 crore to construct a 36-km highway, which includes 3 kms of tunnels between Ramban and Banihal in Jammu & Kashmir,” Hindustan Construction Company said in a BSE filing.
For the quarter ended June 2015, the company posted net profit of Rs 8.02 crore, down 70.41 per cent, against Rs 27.10 crore in the corresponding quarter a year ago.
In the past one year, HCC shares fell 51.49 per cent to Rs 17.85 on September 23. Sensex lost 3.56 per cent during the same period.