Multibagger stock rises 6% on order win worth Rs 1,031 crore 

Shares of HCC rose 6% in the afternoon trade on Monday after the civil construction firm said the company won an order worth Rs 1,031.6 crore in Maharashtra. The multibagger stock rose 6% to Rs 44.80 today against the previous close of Rs 42.27 on BSE. Total 40.22 lakh shares of the firm changed hands amounting to a turnover of Rs 17.54 crore. Market cap of the firm climbed to Rs 7,450 crore.

HCC stock has gained 68.60% in year and risen 233% in two years.

In terms of technicals, the relative strength index (RSI) of HCC stock stands at 47.7, signaling it's trading neither in the overbought nor in the oversold zone. HCC stock has a one-year beta of 1.9, indicating very high volatility during the period. HCC shares are trading higher than the 5 day, 10 day, 20 day, 150 day, 200 day  and lower than the 50 day and 100 day moving averages.         

The stock hit a 52 week low of Rs 22.68 on October 26, 2023 and a 52 week high of Rs 57.46 on July 26, 2024. The domestic order is to be executed within 36 months. 

"The company has received a Letter of Acceptance (LOA) from Maharashtra State Road Development Corporation Ltd. for the construction of a Two-Lane Bridge across Agardanda Creek with approaches connecting Tokekhar Tq. Murud and Turumbadi Tq. Mhasala in Raigad District on Revas-Reddi Coastal Highway (MSH-04) in the State of Maharashtra on EPC Mode for a total contract price of Rs. 1031.6 crore (excluding provisional sum and applicable GST)," said HCC in a communication to bourses. 

"The total length of the bridge is 4.3 km, consisting of approaches of 45 m on the Agardanda side, 145 m on the Dig hi side, and the main Bridge of 4,120 m. The Bridge is located on the offshore side of Agardanda Jetty and Dighi Port. The project includes two navigation spans with horizontal clearance of 100 m and vertical clearance of 15 m. The Bridge proper consists of a cable-stayed superstructure for navigational spans totalling 420 m with a span configuration of 67.5 m + 142.5 m + 142.5 m + 67.5 m. Once completed, this project is poised to contribute to enhanced connectivity, reduced travel time and the region's overall economic development. This latest win by HCC is yet another contribution by the company to Maharashtra's infrastructure landscape," said HCC in a communication to bourses.

Hindustan Construction Company is principally engaged in the business of providing engineering and construction services.