HCC

Hindustan Construction Company; which is popularly known by its short form, HCC, in the stock markets and elsewhere; is a Walchand Group company headed by Ajit Gulabchand, and engaged in infrastructure development activity. The Re one paid up share of HCC had bottomed out at Rs 7.75 in August, 2013, and entered a rising trend in line with the general uptrend to have reached a high of Rs 49 on July 1, 2014, a more than six times appreciation in less than a year's time!

It was this tremendous multiplication in its price that attracted selling in the form of profit-booking and still the share did not fall much and fluctuated narrowly just below the recent peak for quite some time. On Friday, however, when the markets fell head-long and the BSE Sensex lost as many as 499 points in just single session, it was this scrip that opened with a gap up and soared to Rs 35 before closing at Rs 34.80 without filling up the gap. An upward gap and a higher closing than the previous day's closing makes this share a good short-term buy on technical parameters, and therefore, suggested to be picked up for short-term speculative gains.