Hindustan Construction to raise Rs 100 Crores through NCD issue to LIC

Hindustan Construction Company Ltd has announced that the Board of Directors of the Company at its meeting held on July 25, 2008, inter alia, has approved the issue of Secured Redeemable Non-Convertible Debentures (NCDs) on private placement basis to the extent of Rs 100 Crores to Life Insurance Corporation of India (LIC), Mumbai, on such terms and conditions as may be mutually agreed between the Company and LIC and in compliance with the Guidelines issued by SEBI and other regulatory requirements for issue of Debentures.

The stock was trading at Rs.96.80, down by Rs.4.70 or 4.63%. The stock hit an intraday high of Rs.100 and low of Rs.95.20.

The total traded quantity was 1588687 compared to 2 week average of 958295.

Source : Equity Bulls

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