HCC-Tata Projects JV Wins Rs 2,191 Crore Indore Metro Contract, Shares Up 2.5% – Equitypandit
Shares of Hindustan Construction Company Ltd (HCC) rose 2.5% to touch a day’s high of Rs 23.95 on 17th March. The surge came after HCC and its JV partner Tata Projects Ltd. (TPL) secured a Rs 2,191 crore contract to build an 8.65 km-long corridor with underground tunnels and stations for Madhya Pradesh Metro Rail Corporation Limited (MPMRCL).
HCC holds a 55% stake in the joint venture, amounting to Rs 1,205 crore.
The package includes an 11.32 km-long tunnel using a tunnel boring machine (TBM) and seven underground stations at Indore Railway Station, Rajwada, Chota Ganpati, Bada Ganpati, Ramchandra Nagar, BSF/Kalani Nagar, and Airport.
It connects a ramp east of Indore Railway Station to west of Airport Station.
HCC is currently working on Mumbai Metro Line III, constructing 4 km of twin tunnels, four stations, and two Chennai Metro packages.
The company has built major sections of the Delhi Metro, Bangalore Metro, Mumbai Metro Line I, and Kolkata Metro.
At 10:40 AM, the shares of HCC were trading 1.86% higher at Rs 23.04 on NSE.
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