HCC gained 31% in June so far, up 162% in last one year; is it a good time to buy the stock?

livemint.com:

₹63."HCC’s 10-decade-old experience of executing in-house complex and marquee projects, 26 percent of hydropower capacity and 60 percent share of India’s civil nuclear power capacity positions it to capture on ₹1.5 lakh crore nuclear opportunity," said the brokerage.Once a prominent player in India's infrastructure sector, HCC faced a downturn after FY11 due to policy paralysis and delayed government decision-making, which severely impacted the entire construction industry. However, after a decade of challenges, including debt restructuring, dispute resolutions, and monetisation of non-core assets, the company is poised for a resurgence, noted Elara.

It added that with India gearing up for significant infrastructure projects, HCC is preparing to leverage new opportunities in the sector.The brokerage also pointed out that with its in-house execution capabilities and a century-long track record of successfully delivering complex and prestigious projects, HCC holds a competitive advantage over its peers. The company has successfully completed debt restructuring initiatives, leading to a substantial reduction in consolidated debt and improving its ability to compete for new project bids.

Furthermore, HCC is strategically positioned to capitalise on significant market opportunities in critical sectors such as nuclear power, hydroelectric power, and transportation, underscoring its potential for future growth and expansion in the infrastructure space, it explained.The stock has given multibagger returns in the last one year, surging 162 percent and jumping 70 percent in 2024 YTD. It has given positive returns in 3 of the 6 months so far.