HCC

CLOSING BELL: The Nifty 50 ended below the 17,000-mark for the first time since October 11, 2022. The NSE benchmark has now shed 630 points in the last five trading sessions.

Hindustan Construction Company Ltd (HCC) in a joint venture with Megha Engineering & Infrastructures Ltd (MEIL) has bagged a Rs 3,681 crore project for construction of a bullet train station, a statement said on Tuesday. The contract was awarded by the National High-Speed Rail Corporation Ltd (NHSRCL) for the construction of the Bandra Kurla Complex Station of the 508.17 km-long Mumbai-Ahmedabad high-speed rail. The Bandra Kurla Complex bullet train station will have six platforms, and each platform is approximately 414 metres, sufficient to accommodate a 16-coach bullet train. The station will have connectivity with the metro and road transport, HCC said in a statement. This station is the only underground station on the Mumbai-Ahmedabad high-speed rail corridor, and it is planned at a depth of about 24 metres below the ground level. The station will have a total of three floors. On Tuesday, shares of the company settled 4.33 per higher at Rs 14.95 apiece on the BSE.

On the broader market outlook, the technical & derivative analyst from HDFC Securities suggests that the trend for Nifty is still bearish.

Hindustan Construction Company (HCC) on Thursday reported a 129 per cent rise in consolidated net profit at Rs 319.03 crore for the quarter ended September 30, 2022, on the back of improved operational efficiencies. The company had posted a consolidated net profit of Rs 139.23 crore in the year-ago period, HCC said in a filing to BSE. However, the consolidated income of company during July-September period dropped to Rs 2,515.15 crore, from Rs 2,834.84 crore in the year-ago period, the filing said. The consolidated expenses of HCC declined to Rs 2,423.88 crore, as against Rs 2,736.23 crore earlier. HCC's strong operational performance and earnings during the quarter were achieved due to improved operational efficiencies through a leaner and efficient organisational structure, the company said in a statement. HCC successfully concluded its debt resolution plan during the quarter, duly supported by 23 banks and financial institutions. The company said that it has transferred Rs 2,8

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Total expenses increased to Rs 2,884.36 crore from Rs 2,618.48 crore earlier

Hindustan Construction Company (HCC) reported a 45.66 per cent decline in net profit to Rs 118.58 crore for the quarter ended December 31, 2021.

Company has total dues of Rs 9,727 crore, Rs 4,091 crore of them to Indian banks

The dispute pertained to Baharampore-Farakka Highways (BFHL) and Farakka-Raiganj Highways

The firm's total expenses declined to Rs 2,093.75 crore, as against Rs 2,176.30 crore a year ago

Lavasa, a subsidiary of construction major HCC, has defaulted on bank loans worth Rs 7,700 crore

Debt resolution, Covid-related liquidity concerns, and a long legal process acting as deterrent are some reasons pushing firms to pursue conciliation

It had logged a net profit of Rs 99.74 crore in the year-ago period

The Rs 1,900 crore road project, which will include a four-lane bridge over the Ganga river, will connect Sahibganj bypass in Jharkhand to Manihari bypass in Bihar

The new forensic audit was necessitated after the National Company Law Tribunal (NCLT) cleared a consolidated bankruptcy process of all Lavasa companies.

Total turnover in the quarter under review was at Rs 1,075 crore against Rs 1,102 crore in the year-ago period

The coastal road project is one of the many infrastructure projects underway in Mumbai to decongest roads and other transport systems

HCC said there was an exceptional loss of Rs 2,400 crore during FY19 which was largely due to the impact of Lavasa's admission into NCLT under the IBC

Debt to reduce by Rs 1,250 crore; additional liquidity of Rs 500 crore to drive growth