HCC Share Price Rose 16% Due to Transaction of Rs 83 Crore in Several Block Deals
HCC Share Price
During the last hours of trading on June 22, there were significant developments in HCC stock. According to reports, a total of 4.5 crore shares were traded in 9 block deals, representing a 3.3 percent stake in the company.
This high volume of transactions had a significant impact on the company’s share prices, leading to a notable surge.
The shares of Hindustan Construction Company (HCC) experienced a strong rally, rising by 16 percent on June 22.
The stock closed at Rs 21.35 on the NSE, reflecting a 16.35 percent increase from the previous trading session.
The surge in share prices was primarily attributed to the substantial trading activity witnessed during the final hour of trading.
The 4.5 crore shares that changed hands during this period contributed significantly to the increased trading volume and subsequently affected the share prices.
This transaction volume represented a 3.3 percent stake in the company, further amplifying the impact of the deals. As a result of these developments, HCC witnessed a remarkable jump in its share prices on that day.
9 Block Deal Details
The specific details regarding the buyers and sellers involved in the 9 block deals for HCC stock are not immediately known.
However, it is worth noting that these block deals involved a significant number of shares and had a substantial impact on the company’s trading activity.
During these block deals, the shares were transacted at an average price of Rs 18.6 per share.
This average price represents the value at which the buyers and sellers agreed to exchange the shares during the transactions. The total transaction size for these block deals has been reported to be Rs 83.5 crore.
Although the specific parties involved in these block deals are not disclosed, the significant transaction size and the corresponding impact on the company’s share prices highlight the substantial interest and activity surrounding HCC stock during that trading session.
March Quarter Results
During the March quarter of FY 2023, HCC Limited, the company in question, witnessed a significant surge in net profit compared to the same period in the previous year.
The net profit soared by an impressive 1092.46 percent, reaching Rs 189.84 crore. In contrast, the company had reported a profit of Rs 15.92 crore in the corresponding quarter of the previous year.
Furthermore, HCC Limited experienced a year-on-year increase in net sales, with a growth rate of 5.94 percent.
The net sales for the March quarter amounted to Rs 3094.09 crore, compared to Rs 2920.6 crore recorded in the year-ago quarter.
This increase in net sales indicates improved business performance and revenue generation for the company during this period.
Another notable financial metric, HCC’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), also exhibited positive growth.
In the March quarter, the company’s EBITDA stood at Rs 328.4 crore, reflecting a 19.38 percent increase from the previous year’s figure of Rs 407.36 crore.
The rise in EBITDA suggests enhanced operational efficiency and profitability for HCC Limited during the March quarter.
Overall, the company’s impressive financial performance during the March quarter, as indicated by the substantial growth in net profit, net sales, and EBITDA, showcases its ability to deliver strong results and generate higher revenues compared to the corresponding period in the previous fiscal year.
How is the Performance of Stocks
The performance of HCC shares has been robust and displayed significant growth over different time periods.
Over the last one month, HCC shares have experienced a strong rally, rising by 26 percent. This indicates a notable increase in investor interest and confidence in the company, potentially driven by positive developments or favorable market conditions.
Looking at a slightly longer time frame, HCC shares have generated returns of 17 percent over the last six months.
This demonstrates sustained growth and indicates that the stock has performed well during this period, outperforming certain market benchmarks or providing attractive returns to investors.
Furthermore, over the course of the last year, HCC shares have witnessed substantial gains, amounting to an impressive 70 percent.
This suggests that the stock has delivered substantial returns to investors who have held it for the long term.
The strong rally in HCC shares over the last one month, along with the positive returns over the last six months and one year, indicate favorable market sentiment and investor confidence in the company’s prospects.
These performance indicators showcase the potential attractiveness of HCC shares as an investment option and highlight the company’s ability to generate value for its shareholders.
