HUDCO’s shares are drawing attention on May 13 following the signing of a Memorandum of Understanding (MoU) with the Surat Integrated Transportation Development Corporation Ltd (SITCO). This collaboration aims to develop the Surat Multi-Modal Transportation Hub (MMTH) on land provided by the railway ministry and the Gujarat government.
Executed on May 9 by Sanjay Kulshrestha, CMD of HUDCO, and Manoj Garg, MD at SITCO, in the presence of officials from HUDCO, SITCO, and Rail Land Development Authority (RLDA), the MoU paves the way for consultancy, capacity building, and technical assistance from HUDCO.
SITCO, a joint venture organization of the Ministry of Railways through the Rail Land Development Authority, the Government of Gujarat through GSRTC, and the Surat Municipal Corporation, spearheads the MMTH project.
Assuming smooth progress, the MMTH project, expected to be India’s first, is slated for completion by December 2026. It aims to seamlessly integrate railway, interstate bus, metro, and city bus services, while facilitating direct connectivity to bullet trains and airports.
HUDCO recently attained Navratna status from the Department of Public Enterprises, indicating its enhanced stature. The company’s stock has seen remarkable growth, surging over 163 percent in the last six months and over 65 percent year-to-date, outperforming the Nifty 50 index. Over the past year, HUDCO shares have yielded substantial returns, nearly quadrupling investors’ money.
In the preceding session, HUDCO’s stock closed flat at Rs 214.00 on the National Stock Exchange (NSE).
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