India's Hindustan Construction rises after JV gets $80 mln contract

Om Infra

17/03/2022 08:17

** Indian engineering and construction services provider's
shares  HCNS.NS  gain as much as 15.1% to 17.20 rupees in a
significantly strong Mumbai market
    ** Co's JV with infrastructure firm Om Infra Ltd  OMIR.NS 
gets a 6.09 bln rupees ($80.26 mln) contract for a water supply
project in Bikaner district in the northwestern state of
Rajasthan  urn:newsml:reuters.com:*:nFWN2VJ19J
    ** OMIR shares up 9.6%
    ** Work under the contract involves constructing a network
of water distribution lines of over 1000 kilometres, which will
provide drinking water to 154 villages and two towns of the
Bikaner district - HCNS statement https://bit.ly/3JdHHln
    ** Indian shares were set to end the holiday-shortened week
nearly 4% higher on Thursday, with heavyweight financials
boosting the indexes, as investors took cues from a rally in
global markets after the U.S. Federal Reserve hiked its interest
rates  .BO 
    ** Up to Wednesday's close, HCNS stock had fallen 10.2% YTD
while OMIR had gained 15.2% 



($1 = 75.8800 Indian rupees)

 (Reporting by Anuron Kumar Mitra in Bengaluru)
 ((AnuronKumar.Mitra@thomsonreuters.com; +91 99863 58469;))