HCC soars on its arm bagging project worth Rs 800 crore from NHAI

Hindustan Construction Company Ltd. | Engineering - Construction | Construction & Infrastructure | BSE: 500185 | NSE: HCC

02 May 2012 Evaluate

Hindustan Construction Company is currently trading at Rs. 21.65, up by 0.55 points or 2.61% from its previous closing of Rs. 21.10 on the BSE.

The scrip opened at Rs. 21.50 and has touched a high and low of Rs. 22.00 and Rs. 21.50 respectively. So far 329081 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 35.80 on 02-May-2011 and a 52 week low of Rs. 15.90 on 22-Dec-2011.

Last one week high and low of the scrip stood at Rs. 23.00 and Rs. 19.85 respectively. The current market cap of the company is Rs. 1313.31 crore.

The promoters holding in the company stood at 39.86% while Institutions and Non-Institutions held 29.20% and 30.92% respectively.

Hindustan Construction Company’s (HCC) subsidiary - HCC Concessions has been awarded a project by National Highways Authority of India (NHAI) for six-laning between Vadodara-Surat section of NH8 including construction of a new four lane extra dosed bridge across the Narmada river in Gujarat. The estimated cost of the project is approximately Rs 800 crore. This will be the seventh project in HCC Concessions’ portfolio, which includes six other NHAI concessions.

The concession period for the project is 12 years, including a construction period of 30 months. The project scope involves six laning of 192 km to 198 km between Vadodara- Surat section of NH8 in Gujarat on DBFOT (Toll) basis under NHDP Phase V.

The project is located in the rapidly growing Maharashtra / Gujarat border belt and serves traffic from the ports of Hazira and Dahej, besides catering to industrial traffic from Ankleshwar, Bharuch, Surat regions and Dahej SEZ. This is among the final stretches to be expanded to six-lane capacity on NH8. The development of this stretch will remove a significant bottleneck and facilitate free movement of traffic. The highway passes through the state capitals of Gandhinagar and Jaipur, as well as important cities like Gurgaon, Ahmedabad, Surat and Vadodara.