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HCC shares fall 8% on poor Q4 results

LiveMint logoLiveMint 05-05-2017 PTI

New Delhi: Shares of Hindustan Construction Company (HCC) on Friday tumbled almost 8% after it reported a 4% decline in standalone net profit for the quarter to March 2017. The stock tanked 7.97% to end at Rs 42.75 on the BSE.

During the day, it dived 8.5% to Rs 42.50. At NSE, it eased 7.85% to close at Rs 42.80. The company’s market valuation shrank by Rs 373.24 crore to Rs 4,320.76 crore.

On the volume front, 30.80 lakh shares of the company were traded on the BSE and over 1 crore changed hands at the NSE during the day. HCC on Thursday posted a 4% drop in standalone net profit at Rs 20.9 crore for the March quarter.

The figure was Rs 21.81 crore in the year-ago period, HCC had said in a filing to the BSE. However, total income rose to Rs 1,428.86 crore, from Rs 1,250.08 crore in the same quarter of the previous fiscal.

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