HCC shares surge 9% to hit 52-week high, extend gains for 6th straight day

Shares of the infrastructure construction firm gained as much as 8.75% to hit a year’s high level at ₹51.18 per share on June 12, 2024. The stock also soared 15% on Tuesday, June 11.

According to experts, HCC has taken a series of measures to strengthen the company’s finances, led by debt restructuring, non-core asset monetisation, and dispute settlement. This is expected to reflect in the company's growth moving ahead.

Market observers suggest that the company’s decades old experience in executing complex projects could help HCC in securing new orders especially civil nuclear power projects, which offers new business opportunities worth ₹1.5 lakh crore.

So far in the calendar year 2024, Hindustan Construction Company’s shares have reported double digit gains, rising sharply by over 76% on a year-to-date (YTD) basis, while up 42% in the last three months.

Over shorter periods too, the stock can be seen performing with gains despite the recent volatility across the overall domestic market. In a month’s period, the construction stock grew almost 50% and is up nearly 45% in only a week’s time.

In the last one year, the stock has given stellar returns of 155%, while skyrocketing by 360% in the last three years.

HCC Ltd shares were seen trading 7.18% higher at ₹50.44 per share on the NSE at 1:50 pm.

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