HCC share price jumps over 13% as JV secures ₹2,470 crore order from Tata Power

Shares of Hindustan Construction Company (HCC) surged 13.3% in early morning trade on Friday, March 21, reaching ₹27.84 apiece after its joint venture with Tata Projects secured an order worth ₹2,470 crore from Tata Power Company for a pumped storage project.

"Hindustan Construction Company Limited (HCC) and Tata Projects Limited (TPL), in a 50:50 joint venture, have been awarded a ₹2,470 crore contract by Tata Power Company Limited for the construction of the Bhivpuri Off-Stream Open-Loop Pumped Storage Project (PSP) with a capacity of 1,000 MW (2x333 MW + 2x167 MW), located at Karjat, Maharashtra," the company said in Thursday's regulatory filing.

According to the company, the scope of work includes civil and hydro-mechanical (H&M) components, such as the coffer dam, intake structure with gates and screens at the existing upper reservoir (Thokerwadi), head race tunnels, penstock, surge shaft, pressure shaft, powerhouse, tail race tunnel, lower intake structures with gates and screens, a new lower reservoir with a GFRD dam, adits, roads, drains, and various balance-of-plant (BOP) foundation and building structures.

HCC has developed nearly 26% of India's installed hydropower capacity and is currently executing five hydroelectric power projects, including the 1,000 MW Tehri Pumped Storage System in Uttarakhand.

Meanwhile, today's order win was the second order win for the JV this week, as it secured a ₹2,191 crore contract on Monday for the construction of an 8.65 km long corridor, including underground tunnels and stations, for the Madhya Pradesh Metro Rail Corporation Limited (MPMRCL).

HCC holds a 55% share in the joint venture, amounting to ₹1,205 crore. Currently, HCC is engaged in Mumbai Metro Line III, constructing 4 km of twin tunnels and four stations, along with two Chennai Metro packages.

Its order book at the end of the December quarter stood at ₹9,773 crore, with hydro projects accounting for the largest share at 26%.

Stock recovers 15% in March

After experiencing severe selling pressure between August 2024 and February 2025, losing nearly 51% of its value, the stock has regained momentum in March, rising 15.21% so far.

Despite the recent sell-off, the stock is still up 460% over the last five years. With an engineering heritage of nearly 100 years, HCC has executed a majority of India's landmark infrastructure projects, having constructed 26% of India's hydro power generation and 60% of India's nuclear power generation capacities, over 4,036 lane km of expressways and highways, more than 402 km of complex tunneling, and 403 bridges, as per the company's latest exchange filing.

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