{"id":98071,"date":"2023-03-29T14:00:00","date_gmt":"2023-03-29T08:30:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=98071"},"modified":"2023-03-29T14:50:37","modified_gmt":"2023-03-29T09:20:37","slug":"stock-jumps-9-after-it-completes-sale-of-bfhl-to-cube-highways-for-1323-crores","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/stock-jumps-9-after-it-completes-sale-of-bfhl-to-cube-highways-for-1323-crores\/","title":{"rendered":"Stock jumps 9% after it completes sale of BFHL to Cube highways for 1,323 Cr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3985866078\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of Hindustan Construction Company Ltd (HCC) hiked 9 percent today and is currently trading at Rs 13.90. Such a sharp movement in the share price is observed after the company announced that it has closed the sale of Baharampore-Farakka Highways Ltd (BFHL) to Singapore-based Cube Highways and Infrastructure V Pte Ltd at an enterprise valuation of Rs 1,323 crores.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3441507238\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The company provided an update on the above today that BFHL has ceased to be a part of HCC and the shares of the company have been transferred to Cube Highways as on 28th March 2023.&nbsp;<\/p><p>Hindustan Construction Company Limited (HCC), headquartered in Mumbai, is one of India&#8217;s leading Engineering, Procurement, Construction (EPC), and Project Management Companies. The company has executed landmark infrastructure projects in the country including around 26% of India&#8217;s Hydro Power generation and 60% of India&#8217;s Nuclear Power generation capacities, more than 365 km of complex Tunnelling and 395 Bridges.&nbsp;<\/p><p>A glance at the financials leaves a contrasting observation with respect to the trends represented by the basic parameters such as the revenues and net profit figures the company has reported.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-325438622\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Revenues moved down from Rs 2,498.78 crores in Q2 to Rs 2,034.8 crores in Q3. Net profits went into the red in the recent quarter with a movement from profits of Rs 320.21 crores in Q2 to net losses of Rs 263.34 crores in Q3.&nbsp;<\/p><p>The profitability measure such as ROCE showed a drastic up movement from 4.16 percent in FY20-21 to 72.78 percent in FY21-22.&nbsp;<\/p><p>As per the quarter ending December 2022, promoters hold 18.59 percent stake in the company. FIIs, over the past three quarters, have consistently increased their stakes with the latest movement being from 12.08 percent in Q2 to 12.13 percent in Q3.&nbsp;<\/p><p><strong>Written by Amit Madnani<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-1807546160\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of Hindustan Construction Company Ltd (HCC) hiked 9 percent today and is currently trading at Rs 13.90. Such a sharp movement in the share price is observed after the company announced that it has closed the sale of Baharampore-Farakka Highways Ltd (BFHL) to Singapore-based Cube Highways and Infrastructure V Pte Ltd at an enterprise [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":69895,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[],"class_list":["post-98071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stock jumps 9% after it completes sale of BFHL to Cube highways for 1,323 Cr - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"As per the quarter ending December 2022, promoters hold 18.59 percent stake in the company. 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