HCC is top gainer on BSE

HCC is up, currently the top gainer on the BSE. With volumes up 4.5 times, the stock is up almost 14% at Rs.33.20, close to its current intra day high of Rs.33.70.

The stock has spurted up on the back of its very good performance for Q3FY15. As against a net profit of Rs.5.4 crore in Q3FY14, this Q3 the company’s net profit soared to Rs.27 crore, a five times rise. This was on a 29% increase in total turnover at Rs.1124 crore. What really worked in favour of the company was the arbitration award of Rs.1994 crore from various Govt agencies, with collection of around Rs.370 crore. And it continues to have cases worth Rs.1372 crore in the pipeline. Its current work order stands at Rs.14,307 crore, excluding L1 contracts worth Rs.1176 crore. The market is also enthused about the IPO from Lavassa, which has got the SEBI nod, expected to hit the markets any time soon.