HCC cmp 30 . Fundamentally the company claims to be on a deleveraging path. If is one of the turnaround candidates. If it is successful, the pattern shown below can play out, but one has to closely monitor this kind of company on a regular basis to check how the story is playing out in terms of turnaround, or failure thereof.
According to their latest presentation, • Investor acquired 51% shares in Prolific Resolution Private Limited (PRPL). With this, PRPL has ceased to be a subsidiary of HCC, with effect from 30 Sept 2023.
Consequently, ₹3,301.2 crore of debt has reduced on a consolidated basis.
Above is one of their latest exercises to reduce debt at consolidated level.
Company mainly operates in hydro, water, nuclear and transportation segments of infrastructure and power. Order backlog 12300 crores. Quarterly revenues as of last two quarters at 1800-1900 crores. Company does presentations, concalls etc which one can utilise for detailed research.
Technically, the stock price broke out of a 5 year high above 21 and the whole consolidation below it was an early rounding bottom formation. Since 12 weeks it was consolidating within a weekly triangular formation ( on weekly line charts) and now has broken out of this consolidation. The latest upmove also resembles a flag pattern with flagpole extending from 19 to 29, and breakout happening at 28.5.
disc: invested with a small allocation as a techno funda bet. ( not a recommendation, anyone considering investing should do their own diligence. )
