HCC slips despite inauguration of aircraft carrier dock

Hindustan Construction Company (HCC) has inaugurated the Indian Navy's first aircraft-carrier dry dock in the city of Mumbai. However, the shares in the morning session on Monday were trading in red.

What sets the Aircraft Carrier Dock (ACD) apart is the fact that it is the largest dock of the Indian Navy measuring a massive 281 meter in length, 45 meter in breadth and 17 meter in depth. The company has mentioned that this dock can accommodate the pride of the Indian Navy, aircraft carrier INS Vikramaditya. It is also the first Indian dry dock built into the sea, thereby conserving premium land space and providing the Navy with 0.5 km of crucial berthing space.

Mumbai headquartered HCC is a leader in engineering and construction space. The company has established its presence and gained recognition in the sectors of Hydro Power, Water Solutions, Transportation and Nuclear Power.

The shares of HCC on Monday opened at Rs. 9 as against Friday’s close of Rs 8.95. However, at 11:35 hours it was trading at Rs. 8.50, down 5.03 per cent from its previous close. The stock hit an intraday high of Rs. 9 and intraday low was Rs. 8.50. Its 52-week high was Rs. 16.60 and 52-week low was Rs. 6.31 per share on the BSE.