HCC in green as its JV with Sadbhav Engineering wins MSRDC contract

27 Jun 2012

Hindustan Construction Company is currently trading at Rs. 19.70, up by 0.10 points or 0.51% from its previous closing of Rs. 19.60 on the BSE.

The scrip opened at Rs. 19.90 and has touched a high and low of Rs. 20.15 and Rs. 19.65 respectively. So far 250657 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 35.30 on 20-Jul-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. 20.50 and Rs. 18.90 respectively. The current market cap of the company is Rs. 1198.06 crore.

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

Sadbhav Engineering has been declared as the successful bidder in respect of the bid invited by Maharashtra State Road Development Corporation (MSRDC), Mumbai for accepted contract amount of Rs 319.00 crore in joint venture with Hindustan Construction Company (HCC), Mumbai. The company will lead the joint venture with more than 51% participation share.

The project is to design, build, contract on lump sum basis for construction of terminal facilities for passenger water transport along west coast of Mumbai at Marve and Borivali (Package WWT-3).

Sadbhav Engineering (SEL) is one of the largest BOT developers in the road sector in India with good project execution skills. SEL operates in the four distinct business areas in the infrastructure sector viz. BOT road projects, cash contract-based road projects, irrigation projects and mining.

Related Hindustan Construction Company Ltd. Links:

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