Hindustan Construction Company Ltd to issue Rs.120 crores worth NCDs to Axis Bank

The Board of Directors of Hindustan Construction Company Ltd at its meeting held December 27, 2011 has approved the issue of Secured Redeemable Non-Convertible Debentures (NCDs) on private placement basis for an amount not exceeding Rs. 120 Crores to Axis Bank Ltd, Mumbai, on such terms and conditions as may be mutually agreed between the Company and Axis Bank Ltd and in compliance with the Regulations issued by SEBI and any other regulatory requirements for issue of Debentures.

The Hindustan Construction Company Ltd stock was trading at Rs.17.80, down by Rs.0.20 or 1.11%. The stock hit an intraday high of Rs.18.60 and low of Rs.17.60.

The total traded quantity was 3.81 lakhs compared to 2 week average of 5.97 lakhs.

Source : Equity Bulls

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