- Summary:
- HCC stock extends its rally after securing a ₹2,470 crore Tata Power contract. Can it break ₹28.34 and surge toward ₹35?
Hindustan Construction Company (NSE: HCC) is on a winning streak, climbing higher for the second straight day after its ₹2,470 crore contract win with Tata Power. The stock, which jumped 15% yesterday, is still trading in the green today, indicating strong buying interest. Currently, HCC is testing the ₹28.34 resistance level, and if momentum holds, a move toward ₹35+ could be on the horizon.
Why is HCC Stock Rising?
The infrastructure deal with Tata Power has given HCC a major boost, strengthening its position in India’s booming construction sector. This contract adds to HCC’s growing order book, providing stable revenue opportunities for the future.
Investors see this as a sign of strong business growth, leading to an increase in institutional and retail buying. With India’s focus on expanding infrastructure and power projects, HCC is now in a prime position to benefit from the country’s economic expansion.
Technical Breakout in the Charts
- Current Price: ₹27.51, testing ₹28.34 resistance after a sharp uptrend.
- Resistance Levels:
- ₹28.34 – Immediate hurdle; a breakout could push prices toward ₹35.21.
- ₹41.45 – ₹47.90 – Major upside targets if momentum sustains.
- Support Levels:
- ₹22.53 – Strong support; holding above this could confirm a trend reversal.
- MACD Indicator: Turning bullish, indicating potential upside continuation.
Final Takeaway: Is HCC Set for a Bigger Rally?
HCC’s impressive contract win has reignited market interest, and with strong technical momentum, the stock could be gearing up for a sustained breakout. If it clears ₹28.34 convincingly, bulls might push for ₹35+ levels in the near term.
But if momentum stalls, ₹22.53 support will be key. Either way, with India’s infrastructure boom in full swing, HCC seems ready to ride the wave—and investors are paying close attention!
