Hindustan Construction Company declined 5.57% to Rs 39 at 12:23 IST on BSE, as the company provided Rs 26.03 crore as provision for forex losses in Q2 September 2008.
The stock hit a high of Rs 41.95 so far during the day. The stock hit a low of Rs 38.10 so far during the day, which is a 52-week low for the counter. The stock has a 52-week high of Rs 278.90 on 2 January 2008.
The stock declined 4.73 to Rs 41.30 on 23 October 2008, ahead of the results.
The company’s current equity is Rs 25.62 crore. Face value per share is Rs 1.
The current price of Rs 39 discounts the company’s Q1 June 2008 annualized EPS of Rs 4.81, by a PE multiple of 8.12.
Despite the large forex loss, Hindustan Construction Company (HCC)’s net profit surged 71.40% to Rs 19.94 crore on 20.86% increase in total income to Rs 675.98 crore in Q2 September 2008 over Q2 September 2007.
The company had order backlog of Rs 12,800 crore as on 30 September 2008.
On 17 October 2008, the company won two orders worth Rs 3338 crore from the Andhra Pradesh government in consortium with other firms.
On 15 October 2008, HCC announced that Bank of India has invested Rs 150 crore in its subsidiary Lavasa Corporation, in the form of convertible debentures.
The company is engaged in constructing industrial and commercial building. HCC specializes in large-scale civil constructions. It has been continuously developing new age construction technologies.
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