HCC spikes 7% on getting Rs 904 cr irrigation project

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26 Aug, 2025 12:21

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Shares of Hindustan Construction Company (HCC) rallied as much as 6.7 percent intraday on Tuesday as the company in a joint venture with GVPR Engineers bagged a contract worth Rs 903.83 crore from Karnataka Neeravari Nigam (Karnataka Government’s nodal agency to implement major irrigation projects).

"The contract is for diversion of flood water from Sakleshpura (West) to Kolar/Chikkaballapur (East) under Yettinahole Diversion Project-Package-4," the company said in its filing.

HCC’s share in the joint venture is 50 percent and the project will be completed in 36 months.

Yettinahole is a tributary of Netravati River and the Karnataka Government enterprise is diverting flood water from Sakaleshpur (West) to drought prone areas of Chikkaballapur and Kolar districts.

Apart from survey, investigation, design and construction works, the company will also see operation and maintenance for a period of 5 years after successful commissioning of the scheme and obtaining environmental clearance and other statutory clearances from competent authorities on turnkey basis.

At 09:56 hours IST, the stock climbed 4 percent to Rs 13.75 on the Bombay Stock Exchange.

Posted by Sunil Shankar Matkar