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HCC trades higher on plan to raise Rs 1,000 crore in current fiscal

06 May 2013 Evaluate

Hindustan Construction Company (HCC ) is currently trading at Rs. 14.15, up by 0.16 points or 1.14% from its previous closing of Rs. 13.99 on the BSE.

The scrip opened at Rs. 14.10 and has touched a high and low of Rs. 14.35 and Rs. 14.05 respectively. So far 192049 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 22.15 on 06-Jul-2012 and a 52 week low of Rs. 13.26 on 12-Apr-2013.

Last one week high and low of the scrip stood at Rs. 14.58 and Rs. 13.87 respectively. The current market cap of the company is Rs. 858.96 crore.

The promoters holding in the company stood at 39.86% while Institutions and Non-Institutions held 22.61% and 37.51% respectively.

Hindustan Construction Company (HCC) is likely to raise up to Rs 1,000 crore this fiscal by selling some of its non-core assets. With this initiative, the company aims at paring some of its debt and reducing the strain on its balance sheet. It plans to divest some stake in real estate and infrastructure assets to pare debt as it has been under pressure due to the slowdown in business and burden of high interest rates.

Divestment in some non-core businesses will help the company to streamline business and raise Rs 500 crore to Rs 1,000 crore. The company is planning to sale block land parcels in Mumbai and Pune. Besides, it is also looking at selling stake in 247 Park, an office property in Mumbai's Vikhroli area, in which it holds 26% equity stake.

The company, on standalone basis, has reported a net loss of Rs 50.26 crore in Q4FY13 as compared to net loss of Rs 54.17 crore in the same quarter previous year. The total income from operation of the company declined 14.94% to Rs 982.97 crore as compared to Rs 1155.67 crore in corresponding quarter last year.

HCC Share Price

19.24 0.15 (0.79%)
20-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Larsen & Toubro 4050.00
Rail Vikas Nigam 296.30
NCC 160.45
KEC International 559.60
Kalpataru Projects 1240.45
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