HUDCO Surges on Gujarat Deal; Hexaware, HFCL Announce Growth
Urban development construction site in Gujarat, India
Key Highlights
HUDCO shares surge after Rs 1 lakh crore Gujarat MoU for infra funding. Hexaware plans £25M UK expansion, creating 1,200 jobs. HFCL secures Rs 2,666 crore Rail Vikas Nigam contract.
HUDCO’s Gujarat Deal Boosts Shares
Housing & Urban Development Corporation (HUDCO) saw its shares climb 1.47% to Rs 216.75 on the after signing a significant Memorandum of Understanding (MoU) with the Government of Gujarat.
The agreement outlines HUDCO’s commitment to provide financial assistance of up to Rs 1,00,000 crore over the next two years. This funding is earmarked for identified infrastructure projects within the state, signaling a major boost for Gujarat’s development.
Hexaware Expands UK Operations
In other corporate developments, Hexaware Technologies revealed plans to invest 25 million pounds into expanding its United Kingdom operations.
- The strategic move aims to create approximately 1,200 new jobs across Manchester, Leeds, and Birmingham over the next three to five years.
- This includes expanding Hexaware’s delivery center in Birmingham.
- New R&D centers will be established in Manchester and Leeds.
- The UK Government highlighted this investment at the recent G7 Summit as part of wider international commitments to AI and clean energy.
HFCL Secures Major Rail Contract
Meanwhile, HFCL announced it has secured a substantial contract from Rail Vikas Nigam.
The contract is valued at Rs 2,666.09 crore, marking a significant new order for the company.