Share of Hindustan Construction Company (HCC) hit upper circuit of 5% today after the firm said HCC Group was to receive Rs 1,259 crore from NHAI BOT conciliations. The stock gained 9.05% in the last 2 days.
The share trades higher than 5 day, 100 day and 200 day moving averages but lower than 20 day and 50 day moving averages. The share has gained 102.26% in one year but fallen 10.73% since the beginning of this year.
Market cap of the firm rose to Rs 1,221 crore on BSE. HCC Concessions Ltd (HCON), the infrastructure development arm of HCC Group, concluded its conciliation with NHAI for all disputes concerning Baharampore-Farakka Highways Ltd (BFHL) and Farakka-Raiganj Highways Ltd (FRHL), the company said in a release to the exchanges.
The SPVs entered into settlement agreements with NHAI for a comprehensive closure of all outstanding disputes and claims between the parties, it added.
The firm reported a 43% fall in Q3 net profit to Rs 118.58 crore against Rs 208.56 crore profit in the corresponding quarter of last fiscal.
Sales rose 2.87% to Rs 2,405 crore in last quarter against Rs 2,338 crore sales in Q3 of last fiscal.