HCC Share Price Jumps 13% as JV Secures ₹2,470 Crore Order from Tata Power

Following the acquisition of a ₹2,470 crore order for a Pumped Storage Project by its joint venture with Tata Projects, Hindustan Construction Company’s shares increased 13.3%. This comes after another contract victory for a metro rail project for ₹2,191 crore.

Stock Recovers 15% in March:

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

In a regulatory filing on Thursday, the company announced that Tata Power Company Limited had awarded a ₹2,470 crore contract to Hindustan Construction Company Limited (HCC) and Tata Projects Limited (TPL) in a 50:50 venture for the construction of the 1,000 MW Bhivpuri Off-Stream Open-Loop Pumped Storage Project (PSP) in Karjat, Maharashtra (2×333 MW + 2×167 MW).

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

HCC is currently working on five hydroelectric power projects, including the 1,000 MW Tehri Pumped Storage System in Uttarakhand, and has created around 26% of India’s installed hydropower capacity.

The JV obtained a ₹2,191 crore contract on Monday for the building of an 8.65 km long corridor, comprising underground tunnels and stations, for the Madhya Pradesh Metro Rail Corporation Limited (MPMRCL), making today’s order victory its second order win of the week.

HCC owns a ₹1,205 crore, or 55%, stake in the joint venture. At the moment, HCC is working on two Chennai Metro packages, four stations, and four kilometers of twin tunnels for the Mumbai Metro Line III. Hydro projects made up the most significant portion of its order book, which totaled ₹9,773 crore at the end of the December quarter (26%).

After losing over 51% of its value due to intense purchasing pressure between August 2024 and February 2025, the stock recovered in March and is up 15.21%.

Even with the latest purchase, the stock is still up 460% over the previous five years. With a nearly century-long engineering legacy, HCC has completed most of India’s iconic infrastructure projects. According to the company’s most recent exchange filing, it has built 403 bridges, more than 4,036 lane kilometers of expressways and highways, more than 402 kilometers of intricate tunneling, and 26% of India’s hydropower and 60% of its nuclear power generation capacities.