HCC traded volumes hit a record high today!

Hindustan Construction Company Ltd (HCC) experienced a significant surge of 16.35% in its shares on June 22, 2023, following a remarkable increase in trading volumes. The stock of HCC began the day at Rs 18.35, showing no change from the previous day’s closing price of Rs 18.35 on the National Stock Exchange (NSE). Throughout the day, the stock reached its highest point at Rs 21.35 and ultimately concluded with a 16.35% gain, closing at Rs 21.35.

Today during the afternoon trading session at approximately 2 PM, there were numerous significant volume deals in the stock. The total volume of trades on the National Stock Exchange (NSE) for today amounted to 26.97 Crore, which is considerably higher compared to yesterday’s volume of 4.78 Crore. If we compare today’s traded volume with the three-day average volume, it is approximately 9.24 times higher. The total traded value for today is Rs 533.32 Crore. On average, for the entire month of June, the volume has been around 3.43 Crore.

In the recent quarter of FY23, the company’s revenue surged by 5.94% from Rs 2921 Crore to Rs 3094 Crore. The company’s operating profit stood at Rs 315 Crore along with an operating profit margin of 10%. The net profit of the company is Rs 190 Crore. 

In FY23, the company’s revenue declined by 7.62% from Rs 10670 Crore to Rs 9857 Crore, the operating profit reported was Rs 577 Crore with an operating profit margin of 6%. The net loss of the company is 28 Crore in FY23. The company’s borrowing has gone more than doubled this year from Rs 2018 Crore to Rs 5512 Crore.

As per the latest quarterly report, the promoter holding in the company is 18.59% which is significantly low whereas FIIs have increased their stake from 12.13% to 12.29% while FIIs hold 12.45%. The major part of the total shareholding is owned by the public investors which is 56.66%.

The stock has delivered an impressive return of over 46% in just three months whereas it has delivered a return of 288% in the last three years. 

Hindustan Construction Company is engaged in the business of providing engineering and construction services, real estate, infrastructure, and urban development and management. It is founded in 1926 and is one of the oldest infrastructure companies in India. It primarily engaged in engineering and construction activities in major infra sectors like roads, bridges, hydro, nuclear, irrigation, and water supply. The record-breaking volume that appears in the company after a long time is a kind of signal that the stock is ready for any big up move well let’s wait and watch. Investors must keep this stock on their radar.