Shares of infrastructure major Hindustan Construction Company edged higher on Friday after the company announced that its joint venture has secured a railway sector contract valued at Rs 9.01 billion.

At last count, HCC shares were trading 0.67 per cent higher at Rs 18.13 on the BSE, compared with the previous close of Rs 18.01. The stock remains nearly 44 per cent lower year to date, after gaining more than 4 per cent in the previous session.

In a regulatory filing, HCC said the contract was awarded by Northeast Frontier Railway for the construction of Tunnel-28 on the Tupul–Imphal new broad-gauge railway line. The project has been secured by the HCC–VCCL joint venture, in which HCC holds a 65 per cent stake.

The scope of work includes the construction of a 3.5-km main tunnel, along with comprehensive design, engineering and commissioning services. HCC said this also covers the design and proof-checking of a broad-gauge ballast-less track, as well as the supply, installation, testing and commissioning of all systems and structures required for railway operations.

Earlier this month, HCC had clarified to stock exchanges that a spike in trading volumes in its shares was purely market-driven, adding that there were no pending announcements or disclosures requiring intimation at the time.