Hindustan Construction Company Ltd completes claims settlement with major client

Hindustan Construction Company Limited has completed a claims settlement with a major client for Rs.180 crores, resulting in the reduction of client advances amounting to around Rs. 130 crores (implying a reduction of annual financing charges of Rs. 15 crores), with the balance Rs. 50 crores being received as cash consideration, thereby boosting liquidity.

Shares of Hindustan Construction Company Limited was last trading in BSE at Rs. 40.93 as compared to the previous close of Rs. 43.51. The total number of shares traded during the day was 1566720 in over 4187 trades.

The stock hit an intraday high of Rs. 44.34 and intraday low of 40.62. The net turnover during the day was Rs. 66010870.00.

Source : Equity Bulls

Keywords

HindustanConstructionCompany INE549A01026 HCC ClaimsSettlement