Nuclear Energy stock involved in the engineering and construction of infrastructure projects such as dams, tunnels, bridges, hydro, nuclear, and thermal power plants in focus following launch of Rs. 1,000 Crores QIP.
Price Action
With a market capitalization of Rs. 7,608 Crores, the shares of Hindustan Construction Co. Limited were trading at Rs. 45.29 per equity share, down 4 percent from its previous day’s close price of Rs. 46.95.
What Happened
Hindustan Construction Co. Limited has announced that its board of directors have considered and approved raising funds to the extent of Rs. 1,000 Crores through Qualified Institutional Placement (QIP) and the floor price for the same has been set at Rs. 45.27 per equity share which is on par with the current market price.
About the Company
Hindustan Construction Company Limited is involved in the engineering and construction of infrastructure projects such as dams, tunnels, bridges, hydro,nuclear, and thermal power plants, expressways and roads, marine works, water supply, irrigation systems, and industrial buildings across the country
Hindustan Construction Company Limited is involved in building various structures and facilities required for nuclear power plants, such as reactor buildings, cooling towers, and other related civil engineering works. It has built 60 percent of India’s installed nuclear power capacity and 26 percent of India’s installed hydropower capacity.
As of Q2FY25, Hindustan Construction Co. Limited has a strong order book of Rs. 9,534 Crores, and its line-wise distribution consists of Transport 47 percent, Hydro 26 percent, Water 22 percent, and Nuclear 5 percent.
Financials
Its Revenue from operations declined by 24 percent from Rs. 1,870.79 Crores in Q2FY24 to Rs. 1,432.41 Crores in Q2FY25, accompanied by a loss of Rs. 2.79 Crores to a profit of Rs. 63.93 Crores.
Written by: Bharath K.S
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