HCC-TPL joint venture gets Rs 2,470 crore order from Tata Power. Details here

Hindustan Construction Company (HCC) Ltd and Tata Projects Ltd (TPL) have jointly bagged a Rs 2,470 crore contract by Tata Power Company Ltd for the construction of "Bhivpuri Off-Stream Open-Loop Pumped Storage Project (PSP) 1,000 MW (2x333 MW + 2x167 MW)" situated at Karjat, Maharashtra. For the mentioned order, HCC-TPL is a 50:50 joint venture (JV).

"The scope of work includes Civil and H&M components of the project i.e. Coffer Dam, Intake Structure including gates & screen at the existing upper reservoir of Thokerwadi, Head Race Tunnels, Penstock, Surge Shaft, Pressure Shaft, Powerhouse, Tail Race Tunnel, Lower Intake Structures including gate & screens, a new lower reservoir with GFRD Dam, adits, roads & drains, various BOP foundation and building structures," HCC stated in a BSE filing on Thursday.

It also includes other appurtenant works required for completion of the project such as infrastructure along with review and interface of electro-mechanical works, the civil construction firm mentioned.

HCC said it is currently executing five hydroelectric power projects, including the 1,000 MW Tehri Pumped Storage System in Uttarakhand, adding this latest win further cements its position as a leading partner in developing hydropower projects.

The announcement came post-market hours today. Earlier in the day, HCC shares slipped 2.23 per cent to close at Rs 24.60. At this value, it has slumped 36.14 per cent on a year-to-date (YTD) basis.

The scrip saw high trading volume as around 33.12 lakh shares changed hands today. The figure was higher than the two-week average volume of 32.20 lakh shares. Turnover on the counter came at Rs 8.24 crore, commanding a market capitalisation (m-cap) of Rs 4,475.68 crore.

The stock traded higher than the 5-day, 10-day and 20-day simple moving averages (SMAs) but lower than the 30-day, 50-, 100-, 150-day and 200-day SMAs. Its 14-day relative strength index (RSI) came at 44.63. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The company's stock has a negative price-to-equity (P/E) ratio of 42.41 against a price-to-book (P/B) value of 3.35. Earnings per share (EPS) came at (-)0.58 with a return on equity (RoE) of (-)7.83.

HCC is a business group developing and building responsible infrastructure through next practices. It has constructed around 26 per cent of India's Hydro Power generation and 60 per cent of India's Nuclear Power generation capacities.