Shares of Hindustan Construction Company (HCC) rose 3.3 percent intraday Thursday on bagging contract from Jammu & Kashmir State Power Development Corporation.
The company has been awarded a prestigious contract worth Rs 810.37 crore by Jammu & Kashmir State Power Development Corporation (JKSPDCL).
The contract includes construction of the 93 MW (3x31 MW) new Ganderbal Hydro Power project on Sind river in Central Kashmir on EPC basis.
The said work is to be completed in 48 months.
The new ganderbal is run off the river hydro power project on Sind river, a tributary of river Jhelum.
The scope of the work includes planning, design, engineering and execution of civil and infrastructure works as well as manufacturing, assembling, inspection, testing and commissioning of electro-mechanical and hydro-mechanical equipments.
Arun Karambelkar, president and CEO of HCC said, “With a wide range of competencies for building various modules of hydroelectric projects, the company has garnered expertise and distinction through complex project management in every step of engineering, procurement and construction.”
The company has reported 33 percent jump in net profit to Rs 14.52 crore in the first quarter ended June 30 against net profit of Rs 10.88 crore in the same quarter last fiscal.
At 10:52 hrs Hindustan Construction Company was quoting at Rs 35.25, up Rs 0.60, or 1.73 percent on the BSE.Posted by Rakesh Patil