/ HCC Spurts On Getting Arbitral Award Of Rs 2000 Crore From NHPC, NHAI ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 1 December 2016

Meanwhile, the BSE Sensex was up 9.43 points, or 0.04%, to 26,662.24. On BSE, so far 1 crore shares were traded in the counter, compared with average daily volume of 28.67 lakh shares in the past one quarter. The stock hit a high of Rs 41 and a low of Rs 37.50 so far during the day. The stock hit a 52-week high of Rs 41.90 on 14 September 2016. The stock hit a 52-week low of Rs 16.60 on 12 February 2016. The stock had underperformed the market over the past 30 days till 30 November 2016, falling 6.30% compared with the 4.39% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 4.43% as against Sensex's 6.23% decline.

The small-cap company has equity capital of Rs 77.92 crore. Face value per share is Re 1. Hindustan Construction Company (HCC) said it has received communication from NHPC and NHAI regarding arbitral award payment. NITI Ayog has gĂ­ven the SOP (Standard Operating Procedures) for release of payment for timely implementation. HCC has been asked to reconcile the award amount within 7 days and thereafter open escrow account and submit bank guarantees (BGs) within 30 days for recovering the amount. This communication clears the way for HCC for receiving close to Rs 2000 crore within 4 to 6 weeks.

The communication came in the backdrop of the Government setting into motion the process to release 75% of arbitration amounts against margin free guarantee in situations where awards have been given but have been contested by the concerned authorities. The cabinet committee on economic affairs chaired by the Prime Minister in September 2016 cleared several measures proposed by the Niti Aayog to revive the construction sector such as easier norms for faster settlement of disputes between contractors and government departments, and partial deposit of funds by government agencies in form of arbitration awards.
For Quick Trial – 8962000225 ✔
or mail us here: info@ways2capital.com
✆ - 0731-6626222 | Toll Free - 1800-3010-2007
Give a Missed Call for Free Trial - 09699997717