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HDIL surges on plan of lowering debt by 20% to Rs 2500 crore by year-end

28 May 2014

Housing Development & Infrastructure (HDIL) is currently trading at Rs. 94.15, up by 2.55 points or 2.78% from its previous closing of Rs. 91.60 on the BSE.

The scrip opened at Rs. 92.25 and has touched a high and low of Rs. 96.65 and Rs. 90.70 respectively. So far 2852306 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 103.45 on 26-May-2014 and a 52 week low of Rs. 26.10 on 07-Aug-2013.

Last one week high and low of the scrip stood at Rs. 103.45 and Rs. 88.40 respectively. The current market cap of the company is Rs. 3959.59 crore.

The promoters holding in the company stood at 36.17% while Institutions and Non-Institutions held 38.54% and 25.29% respectively.

Housing Development and Infrastructure (HDIL) targets 20 percent debt reduction by this year end after which its consolidated debt is likely to come down to Rs 2500 crore. The company has received full payment from Adani Enterprises for its Andheri (West) project, which helped in curtailing debt by Rs 250 crore.

HDIL is a real estate development company. Its business activity comprises of construction and development of residential projects, commercial, retail and slum rehabilitation projects. It is also engaged in construction of special economic zone (SEZ).


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