HCC is the top gainer on the BSE
HCC is currently the top gainer on the BSE, up over 5% at Rs.31.25 which is just a tad away from its intra day high of Rs.31.95. Its 52-week high stands at Rs.49.
The stock is up after it announced that it has got an arbitration award of Rs.217 crore for the extension of time (EOT) cost claim for the Lucknow-Muzaffarpur National Highway project – package IV. Of this Rs.217 crore, Rs.135 crore is the principal amount and Rs.82 crore is the interest part.
In current FY15 fiscal, this is the 6th arbitration which is in favor of HCC and the total amount received through in HCC’s favor for its various project stands at Rs.773 crore.
On the order front, it said that its order-book at end of Dec’14 stood at Rs.14,307 crore and it is has bid for contracts worth Rs.4733 crore and in al these contracts it is the lowest bidder.