HCC-DBL JV wins Rs. 1,335 crore Rail Vikas Nigam order

Hindustan Construction Company Ltd. (HCC), in a joint venture with Dilip Buildcon Limited (DBL), has been awarded a Rs.1,335 crore contract by the Rail Vikas Nigam, for construction of tunnels, bridges and formation works under package-9 of the new broad gauge rail line between Rishikesh and Karanprayag in Uttarakhand. HCC share in the JV is 60% (i.e. Rs.801 crore).

This is an item rate contract for construction of 8.04 km long rail line involving 6.4 km long main tunnel and 6.3 km long escape tunnel, 2 major bridges and one minor bridge, 2.2 km long yard and a station at Karanprayag. The work is to be completed in 50 months.

Mr. Arjun Dhawan, Group Chief Executive Officer, HCC said, "This is our third order win this quarter. RVNL's 125 km new broad gauge rail line between Rishikesh to Karnaprayag will boost tourism, trade and connectivity for pilgrims between the five districts of Uttarakhand, including Dehradun, Tehri Garhwal, Garhwal, Rudraprayag and Chamoli."

It comprises of 17 tunnels, 16 Major Railway bridges and 12 new stations. The rail line will connect to the new trade centres and will pass through many famous places connecting Devprayag, Srinagar, Rudraprayag, Gauchar, Karnprayag, Dehradun, Tehri Garhwal, Pauri Garhwal, Rudraprayag and Chamoli.

Shares of HINDUSTAN CONSTRUCTION CO.LTD. was last trading in BSE at Rs.5.92 as compared to the previous close of Rs. 5.97. The total number of shares traded during the day was 294097 in over 449 trades.

The stock hit an intraday high of Rs. 6.16 and intraday low of 5.88. The net turnover during the day was Rs. 1742524.

Shares of Dilip Buildcon Ltd was last trading in BSE at Rs.378.35 as compared to the previous close of Rs. 366.15. The total number of shares traded during the day was 29940 in over 979 trades.

The stock hit an intraday high of Rs. 389 and intraday low of 367.9. The net turnover during the day was Rs. 11259719.

Source : Equity Bulls

Keywords