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HCC plunges as RBI refuses to accord infra status to its arm - Lavasa Corporation

11 Jul 2012 Evaluate

Hindustan Construction Company (HCC) is currently trading at Rs. 20.80, down by 0.35 points or 1.65% from its previous closing of Rs. 21.15 on the BSE.

The scrip opened at Rs. 20.45 and has touched a high and low of Rs. 21.15 and Rs. 20.15 respectively. So far 682940 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 35.30 on 20-Jul-2011 and a 52 week low of Rs. 15.90 on 22-Dec-2011.

Last one week high and low of the scrip stood at Rs. 22.15 and Rs. 20.00 respectively. The current market cap of the company is Rs. 1258.72 crore.

The promoters holding in the company stood at 39.86% while Institutions and Non-Institutions held 28.04% and 32.08% respectively.

The Reserve Bank of India (RBI) has refused to accord infrastructure status to Hindustan Construction Company’s (HCC) subsidiary Lavasa Corporation’s loans. Pursuant to which, the company will not be able to recast its debt through the Corporate Debt Restructuring (CDR) Cell of banks. Lavasa Corporation is setting up a controversial township project near Pune.

An entry into the CDR Cell will have helped the company’s loans to be categorized as standard asset. Allegations, which are devoid of any substance and made with a deliberate intention to derail the smooth progress of the project, did have an impact on the finances of the company. 

HCC 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

24.14 0.56 (2.37%)
06-May-2026 16:59 View Price Chart
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