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Hindustan Construction Company surges on plan of raising Rs 1000 crore

13 Jun 2017 Evaluate

Hindustan Construction Company is currently trading at Rs. 43.15, up by 0.45 points or 1.05% from its previous closing of Rs. 42.70 on the BSE.

The scrip opened at Rs. 42.95 and has touched a high and low of Rs. 43.30 and Rs. 42.60 respectively. So far 323095 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 48.00 on 25-Apr-2017 and a 52 week low of Rs. 18.55 on 24-Jun-2016.

Last one week high and low of the scrip stood at Rs. 44.20 and Rs. 41.95 respectively. The current market cap of the company is Rs. 4351.08 crore.

The promoters holding in the company stood at 27.80%, while institutions and non-institutions held 43.44% and 28.75% respectively.

Hindustan Construction Company is planning to raise Rs 1000 crore through equity and debt in one or multiple tranches. In this regards, the company is seeking shareholders’ nod for its fund-raising plans in the ensuing Annual General Meeting on July 6. It is also seek shareholders’ approval under the Scheme for Sustainable Structuring of Stressed Assets for restructuring its loan through preferential issue of shares and optionally convertible debentures.

Besides, the company is also seeking investors’ approval to issue some of its lenders up to Rs 1.236 crore shares at a price of at least Rs 41.61 a share. The company will seek shareholders’ approval to issue some of its lenders 10.7 lakh optionally convertible debentures of face value Rs 1,000 each.

Hindustan Construction Company is a leader in engineering and construction space. The company has established a vast presence and gained recognition in the sectors of Hydro Power, Water Solutions, Transportation and Nuclear Power.

HCC Share Price

17.31 -0.30 (-1.70%)
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