HCC shares surge 4% after firm's JV with Tata Projects wins order worth Rs 2,191 crore

Hindustan Construction Company wins order worth over Rs 2,000 crore, with its JV Tata Projects

The shares of Hindustan Construction Company (HCC) surged nearly 4 percent after the firm announced that its joint venture with Tata Projects has won an order worth Rs 2,191 crore for Indore Metro.

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HCC, which holds 55 percent stake in the joint venture, further said that the project would entail the construction of an 8.65 km-long corridor. This includes underground tunnels and stations for Madhya Pradesh Metro Rail Corporation Limited (MPMRCL).

The Package IN-05R is the sole underground segment of the 31.32 km long Indore Metro's Phase 1 project. The said package includes the construction of an 11.32 km-long tunnel by using a tunnel boring machine (TBM) and seven underground stations - Indore Railway Station, Rajwada, Chota Ganpati, Bada Ganpati, Ramchandra Nagar, BSF/Kalani Nagar, and Airport. Once completed, the segment will connect a ramp east of Indore Railway Station to a ramp west of Airport Station.

Hindustan Construction Company (HCC) remains a key player in India's urban transit infrastructure. It has executed significant projects such as a 4 km twin tunnel and four stations for Mumbai Metro Line III, along with two major packages for Chennai Metro.

Over the years, the company has contributed to the development of multiple metro networks, having constructed substantial portions of the Delhi Metro, Bangalore Metro, Mumbai Metro Line I, and Kolkata Metro.

HCC stock has tumbled 40 percent so far this year.