HDIL declines as CARE downgrades rating of its NCD issue to D

20 Mar 2013

Housing Development & Infrastructure (HDIL) is currently trading at Rs. 49.60, down by 11.20 points or 18.42% from its previous closing of Rs. 60.80 on the BSE.

The scrip opened at Rs. 60.25 and has touched a high and low of Rs. 61.00 and Rs. 49.30 respectively. So far 11887175 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 123.95 on 16-Jan-2013 and a 52 week low of Rs. 49.30 on 20-Mar-2013.

Last one week high and low of the scrip stood at Rs. 68.40 and Rs. 49.30 respectively. The current market cap of the company is Rs. 2220.72 crore.

The promoters holding in the company stood at 37.36% while Institutions and Non-Institutions held 42.13% and 20.51% respectively.

Credit Analysis & Research (CARE) has revised rating of Housing Development and Infrastructure’s (HDIL’s) non-convertible debentures (NCD) issue to D from BBB+.

However, the company has not accepted the said rating assigned by CARE and would like to reiterate the company’s strong financial and operational performance and sound fundamentals and the company has submitted to CARE to review / restore the rating.

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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