HCC climbs 6% on bagging orders worth Rs 236 crore

NEW DELHI: Shares of Hindustan Construction Company (HCC) climbed 6 per cent in Tuesday's trade after the company, in a joint venture with Vensar Constructions Company (VCCL), bagged two orders totaling Rs 236 crore from the Northeast Frontier Railway.

HCC owns 55 per cent in the joint venture.

Following the development, the stock rose 6.4 per cent to hit a high of Rs 6.15 on BSE.

In a filing to BSE, the company said that the orders are a part of the Bairabi-Sairang new broad gauge rail line, being implemented by the Indian Railways as a part of its plans to improve its network across the North-East India.

This rail line aims at giving a boost to the rail connectivity in the region, as it will connect Mizoram to the Indian Railways network up to Bairabi railway station in the state.

The orders entail construction of single line broad gauge tunnels (Lot 14A and Lot 15A) on a 51.38 km long Bairabi-Sairang broad broad gauge rail line in Manipur.