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Shares of Hindustan Construction Company surged almost 3% after the company secured two orders worth ₹2,565.8 crore from Patna Metro Rail Corporation (PMRCL)
Hindustan Construction Company is a Mumbai-based engineering and construction company that undertakes large-scale infrastructure projects and caters to sectors like transportation, power plants, and water systems.
The deets: the contracts involve construction of a 10.67 kilometres of underground tunnel using the Tunnel Boring Machines and the development of six metro stations under its phase 1.
The first contract is worth ₹1,418.30 crore while the second contract is worth ₹1,147.51 crore.
Why it matters: India’s railway construction market is growing at a rate of 8.38%.The government is also pushing the sector through initiatives like the National Railway Plan 2030, Dedicated Freight Corridors, and Amrit Bharat Station Scheme. This move thus, further solidifies the country’s mission to develop world-class railway infrastructure in the country.
